The market posted a clear follow-thru day on wednesday on to make it two consecutive days higher price and volume. The pullback on thursday was smaller volume and at the same time, many of my stocks were up. I still have hope that the market will turn and test at least the top trendline in the channel and perhaps even break above it surprising everyone.
However, challenges are there. Certain looks at the nasdaq show that price has broken below the neckline that formed over the last year and is testing it at current levels. While it seems too obvious for it to break down in the very near future, it’s always a possibility. I’ll be watching for sell signals.