Cautious Market For Buyers

spx_weekly

Two days of increasing sellers’ volume could be dangerous.

The major averages were little changed Wednesday.

The S&P 500 is wrestling with support at its 200-day moving average.

How well it holds up here depends on how well institution-grade buyers want to defend it.

Chances are the market will see lower prices in the coming weeks, given the summer season’s harshness for stocks.

But let’s let the market speak for itself.

Until the heavy unloading of shares eases it’s a cautious market for buyers.

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: