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Thursday, April 18, 2019

Daily update 4/18

More selling after the open.  More dip buying when SPX drops below 2900.


SPX managed to close above 2900 yet again.  Breadth was slightly negative.  New highs slipped some more to 68.  New lows were stable at 26.  No launch, no break down.


The futures consolidated all week.


The green count slipped under 50 and the red count crept higher.

The selling after the open continued today.  Every day since crossing 2900 the market has gapped up on the open and every day sellers have showed up.  Every dip below 2900 finds buyers.  Until one group gives up the market is not going anywhere.  Next week there are a lot more earnings coming out.  Maybe that will shake things up, but so far earnings have not had much impact on the market.  Patience.



Have a great Easter weekend.  Remember the reason we celebrate Good Friday and Easter Sunday.

Bob

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The information in this blog is provided for educational purposes only and is not to be construed as investment advice.