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Friday, March 17, 2017

Daily update 3/17

More nothing.

The lack of action could be due to an option week pin.  If that is the case it should be all over now.  Maybe next week the market will resume going somewhere.  Breadth was +57% due to strength in small caps.  new highs dropped a bit to 139.  Except for FED day this week was a non event.

The futures appear to be headed for the 20 and 50 SMA area again.  Not much new here.

The green count ticked up a bit, but nothing to write home about. 

The muted action this week might have been caused by the option configuration for expiration.  We will see if the lack of buying enthusiasm extends into next week or not.  If it does then we might really be in a corrective period.

This reminds me of the current stock market.  Complacency.

Have a great weekend.


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