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Thursday, April 4, 2019

Daily update 4/4

Sleepy day.


Another pause day just above the Jan. 2018 high.  Maybe they are waiting for the employment report tomorrow.  Breadth was +61% as there was some strength in small cap stocks.  New highs dropped way down to 90.  That seems like a big tumble for a day like today.  New lows were stable at 10.


The futures are trading sideways.  Are they building a base or a top?

There was bursts of buying and selling today.  Neither side wanting to move the market very far.  I think I would have to say the market was churning.  If that were to continue in the days ahead it would be indicative of a top.  This close to earning season investors may be content to wait and see what happens before deciding whether to buy more or do some selling.

Bob

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