10.25.10 – Airpocket in Prior Highs Zone

Price is giving a little push back on its gap higher into the zone of prior 2010 highs for the S&P 500. Internals are far from sour, but the trend in cumulative tick remains downward at the mid-day. I’ll be watching that and the slope of the AD line closely for directional clues into the p.m. trade.

Related posts:

1. 03.05.10 – Sandbagged Back to Prior Highs
2. 11.05.09 – Positive Internals, Resistance at Prior Highs
3. 08.10.10 – FOMC Dead Zone
4. 04.09.10 – Resistance at Prior SPY Highs
5. 04.01.09 – Gap Fill and Highs Retest