The market was up a smidgin today. In percentage terms it was up 0.0%. Nothing. Zilch. Nada. As flat as a mill pond. Boring.I wish I could offer some amazing scintillating insight. But I can't. It is what it is. Flat.
The RSI still lies at about 50 - the mid-line. The Williams %R is close to zero - the top of the range. That doesn't mean a lot with a fast moving indicator like W%R. I only use it as a check against overexuberance on the RSI. If W%R is going down while RSI is relatively flat - disregard the RSI.
Volume was low today. Just over one trillion shares trading against a 50-Day Average of about 1.4 trillion. That just confirms the unwillingness of traders/investors to park money in the market as indicated by the flat Index.
Momentum appears to be slowing, but that can pick up again.
I'm still bearish long-term - but undecided short term.
Cheers
Red
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