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Friday, May 25, 2018

Daily update 5/25

The consolidation continues.

Sell programs continue to hit the market and keep the dip buyers busy.  That is keeping a lid on the price.  Breadth was -52%.  New highs were up a bit to 73.  New lows were stable at 42. 

The futures ended below the 20 SMA again. 

This consolidation is getting long in the tooth.  Maybe next week one side will give in.  This rally has not had a lot of oomph.  Even after breaking the downtrend line it has done nothing but go sideways.  That makes me wonder if this rally is going to end up rolling over like the other ones.  The bulls need to light the booster rockets and get going.

Have a great long weekend.


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