Articles By: Dr. Declan Fallon
Stock market bulls make decent attempt to regain control
Sellers kept the pressure on, but volume was lighter than yesterday
Yesterday’s highs remain the risk metric for new short positions
Just a quick update as I didn’t do a post after the market close yesterday.
Last week, the number of 52-week Highs / Lows in the Nasdaq and NYSE flashed a new peak and reversed by weeks end
It has taken over a month for sellers to mount a high volume challenge, but today was one such day.
The gains were small. The volume greater. The rally ticks along. There is little more to say than that
Modest losses were not unexpected given the sequence of gains.
After pushing a breakout yesterday, today saw the Russell 2000 build on this momentum.
Bulls kept things moving, although in my sectorbreadth analysis, the once strong Utility sector took a big hit to fall to (joint) last spot.