More heavy selling adds to an overall directionless trend.
Mixed messages continue to prevent us from taking a strong directional bias. We want to let the market take its own course and be ready to strike accordingly.
As long as the major indexes stay below their 50-day moving averages we won’t likely become Bulls. In fact, we’ve nibbled on some shorts for this very reason.
Wednesday’s Distribution also weighs in more than Tuesday’s Accumulation.
Though as Growth Stock buyers we our aware that a Follow Through Day marking a potential low in the market may ultimately win out. It’s simply too early to tell.