US - Market Direction 41 (Mar 18 - May 19)

Re: US - Market Direction 41 (Mar 18 - Dec19)

Postby winston » Mon May 06, 2019 8:03 am

MONDAY

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
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 104239
Joined: Wed May 07, 2008 9:28 am

Previous

Return to AMERICAS & EUROPE: Data, News & Commentaries

Who is online

Users browsing this forum: No registered users and 2 guests

cron