S&P had 3 straight down days but I don't see any major weakness in the market.
We had major negative market breadth but until we see S&P below 1375 in this market I don't consider this as a trend breaking down rally.
Overbought-oversold ratio turned negative today. After such a big push in the market we should be expecting some pullback or consolidation. I believe, we are ready to hit the consolidation (frustrating) phase.
If S&P break the 1375 support, S&P may be looking to hit the 1342..... I am just going to wait for tomorrows action before making any move in this market.
I believe this is good time to be in cash than be heavily invested......
We had major negative market breadth but until we see S&P below 1375 in this market I don't consider this as a trend breaking down rally.
Overbought-oversold ratio turned negative today. After such a big push in the market we should be expecting some pullback or consolidation. I believe, we are ready to hit the consolidation (frustrating) phase.
If S&P break the 1375 support, S&P may be looking to hit the 1342..... I am just going to wait for tomorrows action before making any move in this market.
I believe this is good time to be in cash than be heavily invested......
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