I was wrong in my Weekend Outlook when I said the COMPQ needed to go up today after four days down. Friday was actually up so – technically – the market is still in OK position. My assessment is the upside needs to prove it to me after today.
The SPX had a low volume down day that remained above the swing low of 1261.
The COMPQ had small distribution on slightly higher volume. Price has remained above the swing low so far. As I said in previous posts, I am not interested in the upside until the recent swing high is exceeded.
Charts courtesy of Stockcharts.com
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Tags: Distribution Day · Nasdaq Charts (IXIC) · Swing Charts · VolumeNo Comments
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