Looking For Confirmation, Again
It seems as though
I write this column on the days the market rallies; maybe it should
be posted every day from now on! The
major indices are positive on the day and volume
is coming in heavier than yesterday at this time.
Regardless of what volume does, if we close the day
positive, we have the first day of a new, attempted rally.Â
The rally that tried to begin on Tuesday was snuffed out, as all of the
indices undercut their lows. We
will again be looking for a confirmation of this recent rally beginning next
Tuesday.
Assuming this rally does not fall apart, this weekend
will be a great time to brush up on stocks that may be setting up out there.Â
Currently, I see very few, but that can change quickly if the market
comes under accumulation.
Between today and tomorrow, there won’t be much to do
but watch the action and see if the indices hold the lows.Â
I should be back on Tuesday with my weekend findings.
Here ends my shortest column ever!
Have a great weekend!