That’s a day of Distribution notched in for Thursday.
Price-action on the major indexes hasn’t moved a whole lot for the past few weeks.
But we’re taking recent Accumulation and Follow Through as signs that institutions have been on the buy.
We also like the fact that the market seems to be weathering negative news.
And on the topic of news, can it get any worse? What would be considered a nuclear blast to markets from a historical perspective has become a near everyday event.
No doubt that if the market truly is the leading indicator of economic activity that we believe it is, holding strong in this kind of sentiment is a key first step.
But as always, let the market dictate your trades.
We’ve yet to see the strong Leadership that we do when markets rebound.