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Tuesday, January 8, 2019

Daily update 1/8

A little more up.

SPX gapped higher, but proceeded to pullback a bit shortly after the open.  However,dip buyers came to the rescue and held the market up the rest of the day.  The early morning high was not exceeded though.  Breadth was +78%.  New highs were 14.  New lows were 10. 

The futures are approaching the 100 SMA.  So far the bounce continues.

The green count became a bit more overbought. 

SPX has had little bouts of selling, but nothing too extreme yet.  How much more juice remains?  Hard to say.  Earnings season is coming right up.  It will be interesting to see what the companies have to say about the future.  That could determine what happens next.


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