Yesterday's market action was positive.
The Nasdaq Composite pulled back 0.4% in below average volume (Point A).
It was classic healthy behavior. Tame trading levels indicate institutional investors were sitting on their hands and reluctant to sell stock.
Leading stocks action was positive.
A greater number of leaders were rising in heavy volume compared to those that were falling in heavy volume. When you see this happen on a market down day, it is classed as a bullish divergence.
Yesterday may have been a healthy pullback however it's clear that the market still has a thick band of resistance just above where its currently trading (Point B). To view the funds I hold in my ISA portfolio click here
Please note past performance should not be used as a guide to future performance, which is not guaranteed. Investing in the Funds should be considered a long-term investment. The value of the investment can go down as well as up and there is no guarantee that you will get back the amount you originally invested.
About ISACO
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