April 21st Daily Market Comments

Definite indecision today! It’s not unusual to see a day of consolidation following a big day of trading. However, the indecision is also occurring right at obvious resistance levels for each of the indexes. Although Yesterday’s Bullish trading reduced the prospects of a market selloff, today’s trading is not producing confirmation that a Bullish Trend is about ready to start. Monday will be an important day to see whether the resistance levels are going to continue to act as resistance or whether bullish sentiment can push up through those levels. Do not expect too much movement Today in the overall market, which still makes each individual stock chart the primary criteria. This is why we recommend Trend Analysis.