06/24/2009 After Bell Quick Summary


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I don’t see much edge for either bulls or bears tomorrow except that statistically the day after FOMC tends to be a down day recently.

FOMC

According to “N vs N” rule, the rebound so far was weak.

NvsN

Here again is the past example of how “N vs N” rule was used to detect a trend changes.

NvsN2008

SPY has 7 unfilled gaps again as we all know that at least recently the SPY seemed to unable to hold the 8th up gap so at least bears should not be too worried about a gap up tomorrow if any.

SPY60min 

The conclusion is that it might be a sell-able bounce especially if we get another gap up tomorrow.

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