We still see signs of some strength in this counter trend bounce, despite overall weak volume levels on the overall market. This suggests to me that you will see the S&P 500 possibility test the lower end of the July 2013 trading range before the beginning of another downdraft, a case for which I have been drafting out for a while now in other posts.
That outlook notwithstanding, the market ended yesterday's trading day gaining about 70 basis points, as sectors outside of the energy complex gained. Concerning energy shares, the sectors shares began the day weak and stubbornly retraced a portion of the losses the remainder of the day. This was as the price of oil was under most of the day with the apparent concessions in Syria. Turning to the supply/demand dynamics, the price/volume heat map largely reflects the price performance of the sector groups. The overall demand dynamics remains tilted to the positive side.
That outlook notwithstanding, the market ended yesterday's trading day gaining about 70 basis points, as sectors outside of the energy complex gained. Concerning energy shares, the sectors shares began the day weak and stubbornly retraced a portion of the losses the remainder of the day. This was as the price of oil was under most of the day with the apparent concessions in Syria. Turning to the supply/demand dynamics, the price/volume heat map largely reflects the price performance of the sector groups. The overall demand dynamics remains tilted to the positive side.
No comments:
Post a Comment