Just like yesterday morning, the market showed some weakness while making lower highs and lows.
However, as the market made a lower low after 1000 ET, the NYSE Advance - Decline Line and $TICK made a higher low. Also, the $TRIN had a bullish indication all morning, indicating that there was buying at these market lows. One reason why, thus far, the market has not had a rapid decline.
Looking at a slightly bigger picture, a Three Wave formation was just completed. We will have to wait to see if the selling continues, or if the market now becomes more bullish.
Charles
No comments:
Post a Comment