Dr. Julie Peterson-Manz reviews the Around The Horn stock action for September 29, and presents trade ideas that still have the possibility of triggering for September 30.
The increasing count of bearish distribution days, representative of institutional selling, prevents Deron Wagner from being overly confident on the long side of the market right now.
On one side, are the forces of a natural market correction following a long, long period of expansion. The easier money gets, the more people tend to misspend and mis-invest it. Then, inevitably, their mistakes must be corrected.
Because volume was so light on yesterday's rally, Deron Wagner's thoughts remain the same going into today, despite the perfect bounces off the 20-day EMA's. Today's action will be more indicative of the market's next move than yesterday's.
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