The first bad news for the bulls occurred at 0940 ET when the Financials made a lower low than yesterday's low. Soon after, everything except the Staples Sector turned Red. With only a 62% correction overnight, the market simply continued yesterday's bearish theme, and has made a lower low relative to yesterday's low.
The $TICK is maybe indicating a slowing of momentum to the down side going into the last hour of European trading. However, the VWAP is still resistance.
Charles
No comments:
Post a Comment