General US Market Update - Heatmap
Heatmap SP500
One may get concerned about the relatively red looking Heatmap from yesterdays' session. Don't bee too concerned!
Let's take a deeper look into what happened yesterday:
Nasdaq Makes A Normal-Looking Pullback
The Nasdaq, having rallied as much as 11% in the prior four sessions, seemed all but destined for a pullback. That's exactly what investors got Wednesday.
A 1.5% decline by the composite index on Wednesday may sting those who went long right before the market open.
Yet in the context of the overall market's fledgling uptrend, the Nasdaq's loss on Wednesday does not disturb the current upward trend. Plus, volume fell sharply on the Nasdaq vs. Tuesday's session.
That's actually nice for the bulls. Lower volume on down days signals that the big players on Wall Street — from mutual funds and banks to pension plans and large investment advisors — are not dumping shares. This latest pullback can therefore be considered as a natural reaction to the previous up-sessions.
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One may get concerned about the relatively red looking Heatmap from yesterdays' session. Don't bee too concerned!
Let's take a deeper look into what happened yesterday:
Nasdaq Makes A Normal-Looking Pullback
The Nasdaq, having rallied as much as 11% in the prior four sessions, seemed all but destined for a pullback. That's exactly what investors got Wednesday.
A 1.5% decline by the composite index on Wednesday may sting those who went long right before the market open.
Yet in the context of the overall market's fledgling uptrend, the Nasdaq's loss on Wednesday does not disturb the current upward trend. Plus, volume fell sharply on the Nasdaq vs. Tuesday's session.
That's actually nice for the bulls. Lower volume on down days signals that the big players on Wall Street — from mutual funds and banks to pension plans and large investment advisors — are not dumping shares. This latest pullback can therefore be considered as a natural reaction to the previous up-sessions.
JS-TechTrading
🍾🍾 We trade like the Champions 🍾🍾
Are you struggling with your trading strategy? Follow me to get free, real-time trading signals which are all based on Mark Minervini's success-proven strategy.
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