Bears gain upper hand, Nasdaq and S&P log distribution day
Filed Under Market Commentary |
Path of least resistance remains up, uptrend stays intact.
Second bout of distribution for the NASDAQ. I thought we’d get some institutional selling. Markets rallied off their lows to end the session. It is definitely ok to have these types of days. If we start getting into the 3rd and 4th days of distribution the yellow caution flag will be waved.
Right now, rally is still intact.
QD looks like its going to bust loose here.
See you at Investors Paradise!
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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