At Resistance; Next Move ? September 22, 2019
Posted by Tom in Thoughts.trackback
US market trend in the short term is up, but again, the price action is not that favorable. Looks like we’ve hit a resistance at the 8172 level on the NASDAQ Composite Index; volume is about average but I’m thinking a “lack of demand”. Next week should be interesting. I think we’ll see a significant move one way or the other.
All of the sectors have a ranking below 200, which makes me a bit uneasy as far as trend strength is concerned. (table attached) So, I’m continuing to be cautious here with any big positions.
A short post today, more as I recover from jet lag. 🙂 Have a good week.
………… Tom ……….
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