Frustrating Market; Large Caps Strongest
Just when it looks like Shorts have a handle on this market bulls go and Make America Great Again. Market rallies undo much of the weakness over the last three days and give bulls something to play with. Although bulls are not yet out of the woods. The Semiconductor Index was my bearish choice for today and the index logged a 1% gain. While it didn't reverse all of its 'bull trap' it did push markets away from its 200-day MA; action since last June has been scrappy but it has managed to edge a little higher each day. I would still edge in favor of shorts but another day like today would end this and set up a challenge of triangle resistance.