'Sheesh'Co and a dull day
After close analysis:
Was out most of the day and didn't trade: I'm still on a break. Market was dull for sure and from the looks of it 'CSCO' earnings were weighing in (after close they dbl. their earnings in Q2). The semis were the stars of the show today. There were couple of setups: 1bo-r and 2/6bo where both should have yielded small losses (that's what happens in dull markets but setups should be taken no matter what). Market gearing up for a strong move and most likely tomorrow we should see better action and I should participate.
Market breadth was thin as a razor (ouch!) with Vold registering low/hi of -30/116 respectively! Addq & Add traded within yesterday's range, with Addq finding support @ yesterday's bo level.
Futures didn't do much. Twice, AB visited & held above its slow ema but had a range of 4.2pts (major diet). ES & NQ mirrored each other for the day and hovered around their emas as well. Should be noted that their close wasn't too bullish like other days. NQ is also up against its daily ema.
Indices were about the only bullish thing today. SMH & SOX gapped higher on the open and cnsld most of the day but clearly in an uptrend. Dow was dull and held at Friday's upper range with a hi @10744. There's nothing stopping the Dow from getting to 10850-70 area if the entire market moves in unison.
Overall neutral day!
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