Monday, October 5, 2009

Bearish Non-Confirmation Erased; October 5, 2009

The Russell 2000 and the Nasdaqs made new daily highs a moment ago, erasing the bearish non-confirmation I described in the previous post. Internals remain strong and this rise looks "healthy" for now. It appears to be a C wave in larger correction so that would explain the strength. I'll post more specific as to the larger picture of where we're at in the market right now as clarity comes through. I remain short term bearish below 1071 S&P.

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