The markets took a break today, showing the first signs of slowing in a long while. We are still far from confirming any corrective action, since we need to confirm a high pivot first. The INDU and the S&P both closed positive, but the price action wasn't as bullish as we have seen over the last few weeks. The Nasdaq did finish lower, but off the lows of the day.
As stated above, we will need a technically-formed pivot high before we can look for any sort of correction. Continue to stay patient as we close out another week.
See you on this Sunday's live Trading Room class!
Have a great night,
Your Maverick Trading Team
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