Good morning! It”s day-two of

Good morning!

It”s day-two of another bottoming attempt for the sector. As I noted in last night”s Open”s Interest issue about yesterday”s action, volume still left something to be desired. That”s not necessarily bearish, not yet. Volume can”t be strong at THE low, because THE low can”t be widely recognized or acknowledged.

By the same token, don”t let yesterday”s price surges lure you into chasing strength, not without good reason for making the exception. Lighter volume creates the vulnerability to dips — albeit not having any assurance of whether a dip is only a temporary pullback, instead of a reversal that is resuming the decline.

GWPH makes a presentation tonight, and a favorable reaction might see it suck the oxygen out of the room again when markets react tomorrow. That, and “earnings” announcements timed for this week from among the sector, might also inhibit today”s price action.

I”ll post opening observations in the Open”s Interest thread…