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, October 12, 2018

Daily update 10/12


While SPX was up 1.42% the breadth was only +53%.  That is very narrow for the size of the move.  Volume was good though.  New highs were 8 again.  New lows came in at 383.  SPX closed just barely above the 200 SMA.

The futures have stabilized at least.

Fortunately the market bounced today.  There was good buying late in the day, but SPX was unable to close above the open.  Things look setup to continue the bounce on Monday.  Given the technical damage that was done a retest of yesterday's low is likely at some point.

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.