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Originally Posted by coolhand

Was today's positive action a precursor to a bigger move? Early positioning? I don't want to read too much into it, but it's possible. We know the smart money has not been embracing weakness either.




The charts are not much changed, but is momentum ready to turn up? It looks like it might be.



Breadth remains bearish, but it has been trending

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Stocks sold off again on Friday, with those FAANG earnings being one of the main catalysts, although COVID and the election is still part of the equation. A late rally took the indices off their lows as investors didn't seem to want to be short heading into the weekend, perhaps in hopes of a stimulus deal may be done, and the indices were certainly getting oversold in the short-term. The Dow lost "just" 158-points, or 0.59%, but the broader indices took a much stiffer hit.
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