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Friday, March 29, 2019

Daily update 3/29

Positive trade comments were enough to cause a gap up.

After the open some sellers came in right away.  The market traded sideways most of the day and SPX closed near where it opened.  Breadth was +59%.  New highs were 134.  New lows slipped to 23.  Volume was elevated at quarter end.

The futures headed up to retest the recent high, but failed to make any progress after the open.

The green count fell, but remains above the red line.

Since SPX did not make any progress after the open it is hard to classify today as a thrust day.  I guess we will find out next week if the bulls are serious about sending prices higher or not.

Have a great weekend.


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