There’s not a whole lot to report in terms of market signals as my indicators are still bearish. They’re improved, but still no need to go long at the moment. I just wanted to look at the day’s winner in terms of % mover and ask you if this looks like a chart pattern that you would feel comfortable buying? It’s possible we rally some more, but this chart in my opinion does not have a good edge in terms of going long.
I just checked on the 5 biggest winners within the sector (PCX ANR MEE ICO ACI) and they all have below average volume. When you add in the anemic volume on the indexes today it paints a much bleaker picture.
