The S&P experienced a small loss on lighter volume
It was never going to look pretty, with indices effectively back inside prior trading ranges, with some wedged between 50-day and 200-day MAs too.
Markets kept with the theme of Tuesday’s bullish reversal, adding another percentage point in gains as shorts found themselves on the wrong side of the trade
Wednesday’s finish offered bulls their day trade opportunity, but the volume wasn’t really there to suggest something more than a bear rally.
The S&P played to form with buyers coming in at converged support and 50-day MA.
Buyers offered very little on the day, which was somewhat unexpected given large sell offs in recent months have found it hard to gain traction.
Large losses on weak jobs data offered bears an opportunity to go on the offensive.
The swing trade opportunity sided with the bears, but for Large Caps it wasn’t a big swing.
It’s looking good for the Dow following yesterday’s breakout in the S&
The week continued its bright start with a resistance break for the S&P (NYSEARCA:SPY)
Buyers had laid out the ground rules for Monday’s gain on Friday, and they grabbed their opportunity with both hands.
Interesting action in the markets.
Buyers concentrated their attentions on the S&
Friday was set up for bulls, but in the end they couldn’t maintain the push.
The back-and-forth between bulls and bears continued, this time with bulls controlling the day.