After yesterday's big volume, big gain day, you had to wonder whether the big money boys cut short their vacations, but it didn;t look like it today Volume went back to it's normal low level, and the gains were a bi muted, although we did have another late rally. Economic reports today, despite the touting, really weren't very good, but they weren't bad enough to reverse yesterday's momentum. We are going right back into moving averages again, something we have been contending w0th for months, and so far, there is nor reaosn to believe we won't get some resistance there. We do have NFP tomorrow, which will no doubt be a market mover, and then next week we get the volumn back, and right now there is no way to know which way it is going to go. Og note: RSI has crossed above 50, and MACD has crossed over, so we do have upside momentum.
We have NFP tomorrow, which may or may not be a big market mover. nobody expects much, and volume should be light as some folks take off early for the long weekend. Unlike the professionals who are paid big money to lose yours, I will not be on vacation and will be studiously working, so stay tuned this weekend.
I will have the new highs update shortly.