Posted 12/4/2018 13:29 (#7148290) Subject: Sharp drop in indices not a good sign!
Starbuck Manitoba Canada
The gap up yesterday with no followthrough was not a good sign. Failure to rise above the recent highs of the past month or so shows weakness. The SP 500 came within 10 points of recent highs then backed off and headed lower today. Once the gap from yesterday was close, all three majors fell like a stone, and continue to wallow near the lows. The Dow at it's lowest point was over 700 points lower. the SP 500 nearly 90 points lower and the Nasdaq almost 250 points lower.
As I have stated before, to not take some cookies off the table after the best bull run almost 10 years in the making is ludicrous!
And yet grains are holding their own, which is a good sign.