Tuesday, May 30, 7:22 pm EST. I don’t think we’ve reason to be concerned, but I’m going to examine all the charts for price and volume, and particularly to see if support is holding, and volume is weak. Those two factors would play into my current opinion. So, let’s have a look….
Yup, support remains intact, and the volume was virtually nonexistent! Average volume for all issues was off by 44%!
Let this play out… it needs to settle back. Risk needs to get wrung out. Support and resistance need to converge, and then, let the fireworks begin! Will it be up, or will it be down. I’m expecting it to go up!
Unless it doesn’t, then I’ll change my opinion………