The market is rising, but on very low volume. Additionally, both share price and the 50 day moving average is below the 200 day MA. This is the definition of longer term down trend.
Declining volume suggests a lack of the type of enthusiastic buying that is necessary to sustain a major uptrend. The futures market indicated a strong open on Wall Street Tuesday morning, but unless volume increases, I think we should remain a little skeptical about this advance in stocks.
Fortunately, the low-volatility bond/debt/income funds we own are trending up as well..
No comments:
Post a Comment