***** TA Update (intra-day) *****
The markets are mixed in moderate trading, as the unemployment report can be considered negative.
The Nasdaq a/d is 15/14, as the breadth has been fairly narrow on several of the recent rally days, up/down volume is positive at 3/1, indicating mild accumulation on fewer stocks, on 893M shares, which projects to around 1.8B shares.
The NYSE a/d is 8/7, with u/d vol 2/1, on 735M shares.
These statistics were several minutes ago and the market has weakened a bit since then.
The market could still muster up a fairly firm close as long as the u/d vol remains positive during the mid-day countertrend dips.
But the rally is starting to look a little extended and a top may be in soon, perhaps early next week, if it has not already been put in. |
