A higher high candle on the daily charts of the major indexes will give us higher low pivots. That’s usually bullish. I’d proceedwith caution on the long side here however. This is a nasty bear that is able to catch you off guard easily.
Today’s rally had decent volume, but remember it’s options week. That could be skewed. The advance/decline ratios were far from stellar. The DOW and SPX stalled halfway up yesterday’s wide range red candle’s. 200ma’s on the 5 minute charts are right about here. The moving averages on the dailys are trending down. and…
Tomorrow is options expiration. Anything can happen. I’ll want to see prices hold above the open for the first hour.
