Grind Away

An uptick in volume over the last two weeks coupled with stagnant price action tells us this rally has cooled.

We’re sticking with a Buyer’s Caution bias, though will turn it to Sell if we see some Distribution Days notched in.

Distribution, where volume exceeds the previous day and accompanies a price drop, gives us indication that institutions may be unloading. And that’s something we don’t want to be on the other side of given the institutions dominance in moving the market.

Stay tuned,