Back To Base


The Dow Industrial Index and S&P 500 appear to be having second thoughts about continuing their breakouts as the Nasdaq entices buyers by holding high.

We might expect to see some heavy selling at these levels, though to remain bulls we want to see sell volume dry up in the coming sessions. If not, we’ll anticipate further slipping, perhaps to the logical support levels of the 50-day moving averages. 

On a bullish note, this market is a bit dull. The Volatility Index ($VIX) is holding steady. Fed news over QE continuation is old now. No major earnings shakeups. Just a bit of doubt. There’s always doubt. Never short a dull market.