What Happened to the Pullback?
Yesterday’s small rally leaves the market slightly oversold but my concern remains the same. This pullback has been led by the wrong stocks and has been done without a blip in volatility.
A news event may take prices higher here, especially as the upward month-end bias in prices is in force. But, short of that news event, a larger pullback would be healthier and more probable before leading to the next leg higher.
Have a great weekend!
Today’s Potential Opportunities on Further Pullbacks: