Fear Of Heights

The bull’s momentum stays intact with the Dow, Naz, S&P and Russell 2K indexes all inching higher Tuesday.

But distribution from the Retail and Semiconductors threatens to take it all down a notch.

Volume precludes price-action – at least usually.

It should also be noted that the major indexes all notched in Accumulation Days, where volume on the advance was higher than yesterday’s.

The high-volume would be encouraging if the day’s move was bigger. But it wasn’t, and grinding action can be cause for concern for bulls.

A better grip on today’s action will be had as the week moves along. One day weighs little in the bigger picture.


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