Today’s consolidation, not unexpected, was made more evident with the NASDAQ opening yesterday right at the resistance level and selling off, creating a small hanging man signal. The projection of merely consolidation today is based upon the indecisive signals created over the past couple of trading days but the stochastics are still not quite into the overbought area.
October 18th Daily Market Comments
Today’s consolidation, not unexpected, was made more evident with the NASDAQ opening yesterday right at the resistance level and selling off, creating a small hanging man signal. The projection of merely consolidation today is based upon the indecisive signals created over the past couple of trading days but the stochastics are still not quite into the overbought area.