If you missed the Tuesday night eLearning
If you missed the Tuesday night eLearning "PROFITS PROFUTS PROFITS" it was recorded The Wednesday Market & Chart Report video can be found here | |
Stocks gapped modestly higher at the open Wednesday following the extremely bearish gap and ran Tuesday. However, all 3 major indices spent the rest of the day crossing back and forth that gap space. With that said, the bears picked up a little strength about 3 pm to take us back down to new lows. This action leaves us with black-bodied candles that at least have upper wicks (more bearish than indecisive) at this point in the afternoon. With 30 minutes left in the day, half of the 10 sectors are red and the other half green. However, Energy (+2.36%) is far and away the most bullish sector, and Basic Materials (-1.21%) is the most bearish sector. So far, the VXX is up 1.8% to 19.36 and T2122 remains oversold at 8.72. 10-year bond yields have pulled back after being up earlier to 3.412%, and Oil (WTI) is up 1% to $88.14/barrel. All-in-all, the bears did not get much follow through to yesterday's massacre. However, there is also nothing for bulls to hang their hat on at all…the bears are clearly still in charge. | |
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