Tuesday, May 7, 2013
Advance Decline Breadth and Up/Down Volume Ratio continued steadily up after a steep sell-off in the morning. The move up in both indicators resembled a machine, as it never broke stride, and was completely calculated throughout. Price of the S&P 500 Futures was almost able to hold the one minute incline of the Double Moving Averages (60 SMA & 110 EMA), but lost its' grip more than once throughout the afternoon with minor, subtle retracements, including one after the close. Cumulative Tick readings were positive throughout the day, and were carried well by their respective MA's. Prices held up to yesterday's readings in terms of VAL, POC, & VAH-- ultimately, opening and closing above Value.