Reflex

The major indexes are bouncing off their 50-day moving averages in what appears to be a show of decent strength as an accumulation day suggests heavy players are on board.

Meanwhile, leadership from the likes of Apple (AAPL) and Amazon.com (AMZN) has been mostly flat in this broad reflexive move.

We’re sticking with our Yellow Flag, Buyer’s Caution bias. There’s not enough evidence to really place an attractive bet toward either direction in this market.

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