Bear keeps its grip


The Bear keeps its grip on things as another day of heavy distribution leaves its mark on the chart. Just as important as buying and selling is doing nothing!

We won’t change our bearish bias until we see high volume come in as a sign of institutional support for the Bull.

We’re also watching Technology leadership, which has cooled in the last couple of weeks. Any heavy selling there will be another sign of deterioration in the overall picture.

Advertisements

No comments yet

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: