A Look at Tuesday’s Trading Activity:
The overall market moved moderately higher in a relatively broad based move that saw all the sector indices I track move higher as well. The strongest sectors were the Airlines, Transports, High Tech, Broker/Dealers, Cyclicals, Chemicals, and Banking indices.
A Few Thoughts Before the Open:
In looking at the charts of yesterday’s trading activities for the various indices I track I did not see anything that really stood out as noticeable. The vast majority of indices I looked at still have negative chart patterns. In looking at the individual stock charts almost nothing has broken from what I would call a sideways trading pattern.
The Bottom Line: I am looking for the market to continue with its sideways trading pattern.