Markets take a step back, taking a deap breathe
Filed Under Market Commentary |
Stocks of interest: DLLR / OPNT / PSPT
Short-term rallies in the Nasdaq and S&P 500 remain in tact. Overhead resistance still remains, lower volume rallies sometimes do not bring out the big boys to play. The longer term picture is still not clear, indexes need to clear May highs on surging volume to change the path of least resistance.
Keep new buys small, playing with shorts is playing with fire.
MktSpec
Last 5 posts in Market Commentary
- Resistance is Proving to be Too Great for Major Indexes - August 19th, 2008
- Stocks Reversed from Highs in Lackluster Trade - August 16th, 2008
- Low Volume Rally as NASDAQ Retakes a Key Moving Average - August 15th, 2008
- We Are Severely Overbought and the Global Slowdown is Beginning to Show its Face - August 13th, 2008
- Proceeding With Caution, This Market is Shaky at Best - August 12th, 2008
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