Support held Monday morning at the lower end of the trading range leading to another jack to the upper end of the trading range. The swiftness tells you how paper thin the trading is…both ways. But we think the market hit a near term high at resistance on Friday…which probably leads to some more pulling…
A lot to digest this week as underneath the surface, a lot of jello moving on the plate…and it is not in a good way. While the major indices are at or near recent highs: The small caps continue to woefully underperform. This theme has been going on for months. Bearish action can be found…
We will have a bigger report over the weekend but had a couple of thoughts today. The market trades tight in here. There is a case for churning in where the market trades with no progress…leading to a change of near-term direction. There is also a case for this being the pause that refreshes before…
Let’s just add Tuesday’s action to the “ice is getting thinner” category. We have outlined for you how many names, how many sectors and how many countries are getting in trouble. Under the weight of all this, eventually, the popular indices follow suit. Remember, we have not had a 10% correction in more than 2…
