Today was a day of indecision. The market remains in limbo. Volume was low and the market was down a little. A couple of defensive secvtors were up, but, in general, sectors followed the market lower.This is looking more like a consolidation pattern than a reversal pattern.
Bulls would be more pleased by today than the bears.
But that proves nothing.
The lines in the sand still remain at the high of last Wednesday and the low of Thursday.
A break either way from those should prove to be decisive.
Another benchmark is the 13-Day Moving Average. A break below the 13-Day Moving Average should prove bearish.
I'm still leaning to the bullish side - but what I think means nothing. I'll be guided by the market.
Cheers
Red
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