Jul
14

S&P Futures Settle Below Midpoint Despite 6:1 Positive Breadth

By Rennie on Wednesday, July 14th, 2010 at 3:09 am

After strong institutional participation in the Wednesday-Friday time frame of last week, we’ve seen a significant reduction this week despite the market’s steady gains. TICKscore closed in negative territory for the second day in a row at -3, Cumulative TICK was essentially flat at +1,400. Higher prices have not motivated further buying. This trend was particularly evident on Tuesday as S&P futures settled below the day’s midpoint. That’s a sign of…
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