Re: US - Market Direction 41 (Mar 18 - Dec19)
Posted: Mon May 06, 2019 8:03 amMONDAY
Friday was a good price move. The indices are again at the threshold of a breakout by NASDAQ and SP500.
Still leadership in position to push the indices higher. Breadth very good. Volume, disappointing.
Perhaps the lateral consolidation is all the indices need to break higher yet again.
We will look at more upside as there are still good setups, and if NASDAQ leads SP500 on a breakout to higher highs there will be good entries off these setups.
Again, since some sellers did enter this past week, early week will be important -- will they show again after a Friday that was all gushing upside because Berkshire bought some AMZN stock.
If they do show up, well, the market is not ready for the new highs and needs to consolidate some more.
Source: Investment House
Friday was a good price move. The indices are again at the threshold of a breakout by NASDAQ and SP500.
Still leadership in position to push the indices higher. Breadth very good. Volume, disappointing.
Perhaps the lateral consolidation is all the indices need to break higher yet again.
We will look at more upside as there are still good setups, and if NASDAQ leads SP500 on a breakout to higher highs there will be good entries off these setups.
Again, since some sellers did enter this past week, early week will be important -- will they show again after a Friday that was all gushing upside because Berkshire bought some AMZN stock.
If they do show up, well, the market is not ready for the new highs and needs to consolidate some more.
Source: Investment House