The Nasdaq advanced 8.84 or 0.38% today (1/14/2010) in disagreement with both volume and the TRIN Index. After the 1st hour of trading, the UP Volume drifted mostly below 60% while the TRIN moved above 1.00 to close the session.
The disagreement between the technicals and the price thus formed a bearish Rising Wedge pattern. The closing right on the lower trendline indicates a probable gap down tomorrow morning.
And, yes, I did try to make the title sound like Hitchcock's "The Trouble with Harry"... Anyways...
The disagreement between the technicals and the price thus formed a bearish Rising Wedge pattern. The closing right on the lower trendline indicates a probable gap down tomorrow morning.
And, yes, I did try to make the title sound like Hitchcock's "The Trouble with Harry"... Anyways...
