The market bounced just above the 50% correction point of yesterday afternoon's up wave. However, on test of yesterday's high, the market crumbled. Traders were probably hoping for repeat of yesterday's performance.
The Advance - Decline Line stayed below -1000 all day putting a drag on any hopes of another sustained up rally.
The Cumulative $TICK is showing no signs of bullishness.
And, investors are showing no interest in Discretionary Stocks.
Charles
No comments:
Post a Comment