Thursday, June 4, 2009

Today's Markets

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Notice the SPYs are having a big problem getting over the 95 handle. Corey over at Afraid to Trade made some great observations about this a few days ago. The bottom line is prices are running up against this level and so far have not gotten through. That could be a problem. Also notice

The OBV printed a lower total for the recent move higher. That tells us there might be something amiss.


Both the QQQQs and IWMs are still moving higher and have moved through important resistance levels. This tells us that risk based capital is still interested in seeking return.