Monday, April 29, 2013
Advance Decline Breadth began the day positive and the MA's supported it all day. Up/Down Volume was similarly carried by the moving averages. In the premarket price bounce off of yesterday's Value Area High, and once the bears failed to take it any lower, it continued to new intraday highs, approaching the All-Time High. On the five minute interval the Ergodic Oscillator only approached the zero line on consolidations and the Double Stochastics showed two perfect examples of the rubber band effect, where the Fast Stochastic pulls back from the Slow Stochastic that is extremely positive, only to ultimately rejoin it and take prices higher.