Online Stock Trading | Another Rally Attempt

Another Rally Attempt


Filed Under Market Commentary |

We got our 2nd rally attempt today.  Nasdaq led the charge as it rose 10.41 (+.48%) however, no one else followed.  S&P500 +.16%/DJ Industrial +.17/Russell 2k -.00%/S&P400 +.16%/S&P600 +.08    What really concerns me is that the NYSE declining volume out paced advancers 3 to 2.  All across the board decliners outpaced advancers and new lows outpaced new highs as well.  Does this mean any rally in the coming days will fail?  Not necessarily but I am overly caution with today’s move.  Again, no new positions should be taken until we can get this market rally confirmed. 
 
We will continue to be on the sidelines constantly studying market actions, waiting for new market leaders to emerge!!!
 
 
The next thing we will watch for is NEW MARKET LEADERS and a FOLLOW THROUGH RALLY within the next 3-7 days.
 
MktSpec

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Comments

One Response to “Another Rally Attempt”

  1. Y.Y. on May 25th, 2006 11:35 am

    on reversal days breadth will have a difficult time to folow the markets direction

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