A much worse than expected consumer confidence number on Tuesday only put a minor ding in a market that refuses to retrace any of Septembers’ gains. With one day left in the quarter, will the cracks seep into other areas?
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Medic breaks down the charts he’s eying for the week ahead.
While retail investors will only see a tepid decline, traders watching the tape have seen a subtle deterioration that may be the start of further declines.
After a solid run for many weeks, Mr. Market has dished out a little pain for two straight days. Under the surface the action has been rather disturbing, yet subtle hints of sustained weakness has turned into bear sandwiches. Will this be the same?
While many cross currents remain, digestion is taking place as stocks work off the most recent pop. Traders will either be feasting on a new set of break outs, or seeing break downs in the coming days.
