Speculation over what the big boy funds might be doing this fall turns up as the major indexes give their 50-day averages a test.
Rather than guess, we watch and observe price and volume action. Not much to say other than a technical test is at hand. That’s pretty much always the case.
Bulls are very much loving the endorsements in breakouts and solid, upward momentum from the market’s top stocks. We want to see these top names hold strong to have faith in others poised to do the same.
Heavy selling will alert us to a potential exit toward the gates this fall. We’ll let you know what short opps develop, if they do…