When Will Yesterday’s High TRIN Reading Kick In?
The Minis are range-bound after having been
turned back at the .618 retracement of the intraday range twice earlier. We’ll
need to break out of this range to get something going. After yesterday’s
extremely high Arms Index reading, I thought we may bounce a little more today,
but again, we’re in a news-driven market.
Avery Dennison has been bid up significantly today after an upgrade from
Morgan Stanley to “overweight.” The stock has pulled back a
little, but has the capability of running for its intraday highs later.
Have a good afternoon,