Still Strong

spx_weekly

The bounce continues. While buy-volume didn’t take out yesterday’s to qualify for an Accumulation day, it was still strong.

Moving averages are still key. The Nasdaq is just above the all-critical 50-day average, while the Dow 30 and S&P 500 are below.

We’re not going to change our Seller’s bias until those averages are taken out.

It’s still earnings season. High volatility in here may still be expected.

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: