Not Many Eager Sellers

spx_weekly

The market isn’t straying much from its Bullish footing.

Despite just a little ground lost among the major indexes volume was light, which means there weren’t a lot of eager sellers.

Perhaps as a stronger sign of institutional selling interest are the pullback to the 50-day average for Semiconductors, as seen on the SMH, and heavy selling in retailers.

We’ll let the evidence weigh heavier for the Bears before changing our Buyer’s Caution bias.

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