Markets are consolidating above their 21-day exponential moving averages on low volume. Though this is expected action, things look a bit shakier both on and under the surface than I would’ve liked. There are many conflicting signals this week. The Nasdaq posted an outside-day today and a weak close in the lower half of the daily range. Volume has not spiked in spots where the market could’ve dumped, but it also hasn’t come in to support the rally at all yet. My bias is now slightly tilted to the downside.
The Next Market Leaders - 6/1
The Next Market Leaders - 6/1
The Next Market Leaders - 6/1
Markets are consolidating above their 21-day exponential moving averages on low volume. Though this is expected action, things look a bit shakier both on and under the surface than I would’ve liked. There are many conflicting signals this week. The Nasdaq posted an outside-day today and a weak close in the lower half of the daily range. Volume has not spiked in spots where the market could’ve dumped, but it also hasn’t come in to support the rally at all yet. My bias is now slightly tilted to the downside.