The majority of the a.m. session has been spent above the Volume Weighted Average Price. Speaking of which, volume is the lightest we have seen since mid-January (14th). Cumulative Tick is slowly grinding higher, suggesting underlying strength. However, I'd like to see the slope of the Advance - Decline line pick up. Semis are doing very well, but the Financials are holding back. Lastly, here is a nice piece by Rob Hanna [2].
Links:
[1] http://2.bp.blogspot.com/_DGwK-zM3i_w/S3BMY8fMHdI/AAAAAAAAAh0/MwPGZPCVFG0/s1600-h/spy.jpg
[2] http://quantifiableedges.blogspot.com/2010/02/difference-between-these-breadth.html