The indexes saw a major intraday reversal, regaining over a percent of value after dropping overnight and into the morning.
What I'd like to see in a bull thrust like today is many stocks participating in the moves by improving in technical condition. However, my market heat index yawned with today's move, actually dropping a point from 32 to 31 degrees.
The bullish percent portion of the index actually hit a new low today.
I'll be looking for more motion in the heat index in the positive direction to really trust in a sustained bull thrust. Otherwise, my posture remains defensive as I heed the warning of the -1 POS score.
No comments:
Post a Comment