The bull’s momentum stays intact with the Dow, Naz, S&P and Russell 2K indexes all inching higher Tuesday.
But distribution from the Retail and Semiconductors threatens to take it all down a notch.
Volume precludes price-action – at least usually.
It should also be noted that the major indexes all notched in Accumulation Days, where volume on the advance was higher than yesterday’s.
The high-volume would be encouraging if the day’s move was bigger. But it wasn’t, and grinding action can be cause for concern for bulls.
A better grip on today’s action will be had as the week moves along. One day weighs little in the bigger picture.