The Markets in Development Briefing 2/23/2018

The Stock Indices are now at an important decision point. The NASDAQ is at resistance. The S&P is not quite there but approaching. Volume is extremely low and while price in today’s trading appeared impulsive, the rally is very weak structurally. Either they will continue higher on Monday, or we will see a retracement of most, if not all of today’s move. If they continue higher, it will be important for the S&P to trade above resistance and for volume in all of the Indices to begin to increase. At this point, the rally is not attracting new buyers. I believe those standing on the sidelines will have to make a decision the first part of next week.

DAILY BRIEFING 180223 from Joe Mertes on Vimeo.