. Today it
seemed that the strength was indeed returning to the Market. We saw a above
average spread up Bar closing at the top. However the volume was just about
average. The overall market also showed
more buying pressure than selling pressure. The overall market volume also
remained just average. Now the index is back into the trading range. The strength that was seen today lacks credibility
as indicated by the mediocre volume. We need to wait and see what happens in
the next few sessions to confirm if the strength has indeed returned to the
market. More sideways moves or in other words more ranging is expected. Any big
uptrend is ruled out for the present and neither any big downside is expected.
No comments:
Post a Comment