The bullish climb continued, with the markets now back to resistance levels. We have been watching a steady move higher over the last ten sessions or so in all three majors. Sentiment is still strong in light of a very weak jobs report last Friday, as the markets regained the majority of their losses into the close.
The INDU and S&P have both posted small gains over the last two days. The Nasdaq did close lower today, as all three markets are starting to look a little overextended. Look for some consolidation or even a retracement later this week. Take into consideration the overall trend when looking for more opportunity. We should see more opportunities develop with some consolidation or a retracement.
Have a great night,
Your Maverick Trading Team
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