There still doesn't seem to be any convincing commitment from the bull/bear camp at this point. Sure we tested new highs on bad news, but we need a solid stance above this long-standing resistance.
The opening of today looked nice and clean. A strong move with nice pullbacks for entry, a mid-day "Holy Grail" and further upside. While the close brought selling back to the day's congestion range.
As much as I'd like to see this market tumble down, it just looks as though it can go either way. Are we building a base here?
The Nasdaq, tagging it's 200-day Moving Average, looks ripe for profit-taking/correction.
No comments:
Post a Comment