The SP500 Index (SPX), Nasdaq Composite (COMPQ), and the Smallcap 600 (SML) all had low volume pullbacks today. The pattern in the last three days has been thrust, pause, thrust. A short term a-b-c correction. A strong move would lead to a continuation of the trend tomorrow. I am not saying that will happen. I am just saying that if the move up is strong I would expect the move up to continue tomorrow.
Charts courtesy of Stockcharts.com
Post Modified: July 29th, 2008 at 4:23 pm
Tags: A-B-C Correction · Nasdaq Charts · Pullback · Standard and Poor's 500 (S&P500) · VolumeNo Comments
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