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Originally Posted by coolhand

The market had a choppy day today, spending time above and below the neutral line. At the close, prices were moderately lower.




The charts still look good as far as the up-trend goes, but resistance is likely going to continue serving as a headwind. Momentum is flat.



Breadth dipped again and is now neutral. I don't see this as a concern given

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Stocks gapped up higher on Tuesday, which is what we might expect after Monday's late positive reversal day. The rally stalled and faded in the final hour, so now we head into Wednesday with a negative reversal day. Seeing stocks lower on Wednesday morning would be what we might expect, but like Tuesday, that may not be how the day ends up. The Dow gained 133-points on the day after being up over 400 at the highs.

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