Continued deterioration in market breadth (as emphasized with a downtrend since early Oct in the McClellan Oscillator), widespread signs of divergence, an extremely oversold VIX and weak volume on equity gains have raised our caution level. We will refrain from adding longs, take some profits and set tighter stops.
Click here for Market Tour on Stockcharts.com
Intraday Market Direction Thursday: Nasdaq Lower
2 weeks ago
No comments:
Post a Comment