The bulls came out hard to start the new week off, but that was the morning session. And while the averages closed with nice gains, they closed well off their lows of the day as price fell dramatically in late afternoon trade. Something is going on. I saw this article early in the trading day. Make of it what you will.
https://www.zerohedge.com/markets/mo...fering-outages
And did you see what happened to precious metal? Slammed.
S&P 500.png
DWCPF.png
The biggest thing that jumps out at me is that volume stick. Huge. And notice that the S&P 500 did push past its previous all-time high before getting swamped with selling.
What do we make of this action? Why did most retail brokerages suffer outages today? Why did NAAIM go largely neutral last week?
NYAD.png
Breadth on the NYSE did move higher and remains bullish.
I have more questions than answers about what to make of the current market environment. And something tells me today won't be the only interesting trading day we'll see in the coming days/weeks.
Futures are up currently. I generally have no reason to be bearish, but the late day selling does make me uneasy.
I am remaining modestly bullish. My angst may be a good thing.
Bookmarks