Coming into Friday without an

Coming into Friday without an overnight plunge meant the market was changing stages. Left behind is its distributive stage, and the new stage being entered should briefly probes new highs, probably aggressively while it does.

Apparently, there”s a stage between them. Sellers didn”t gain any traction Friday, but buyers barely dipped their toe in the water. It”s as if mommy just returned their toy after they played with it dangerously in the house. They”re going easy until being sure no one”s watching too closely and ready to pounce on their excitement.

So, Thursday”s breakout was not confirmed by a second consecutive higher close. And Friday”s proximity to new highs wasn”t exploited by a new high close. Either of these conditions would have entrenched the uptrend. Sellers didn”t do anything about it, but they do seem to be watching, closely.

We”ll discuss the bigger picture, game out Sunday night and Monday morning strategies, then review your stock chart analysis requests… all in the weekend”s Saturday Review at 9:30am ET. Its link will be posted/emailed in the morning.

Meanwhile, here”s the recording of Friday”s post-close Wrap:
https://roddavid10.mitel-nhwc.com/join/rkrbrmz