If you would like an email sent to you when I update the blog please send an email with "subscribe" in the subject line to traderbob58@gmail.com. To be removed use "unsubscribe".

Search This Blog or Web

Friday, August 19, 2016

Daily update 8/19

While the daily pattern is not exactly every other day a different direction it is pretty close.

One thing that is consistent day to day is the low volatility.  Only the direction changes.  Breadth was -57%.  New highs fell back down to 114.  Resistance held today.

The futures bounced off the 50 SMA again today.  They didn't get much traction last time, but that might have been because of option expiration. 

The green count turned back down with the down day in the indexes.  Neither the bulls or the bears are very ambitious.

Resistance has been strong this week, but it might have been option related.  If so it could be gone next week.  If the market still fails to get traction then a pullback in Sept. seems likely.

The market and sector status pages have been updated.  Have a great weekend.


No comments:


The information in this blog is provided for educational purposes only and is not to be construed as investment advice.