Morning Thoughts

Morning Perspective

Yesterday the market started off with solid gains, building on the solid upward action of  last.  However the upside came to a head and then a shoulder, before pulling back into the afternoon.  When all was said and done the S&P500 ended up basically flat on the session.  The Nasdaq however had run into a level of resistance I was looking at early in April.  One that looks ominous when viewed from a longer time frame.

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Morning Perspective

Yesterday was another Monday like we've seen previously.  Futures were higher, the open saw some strong buying, but by the afternoon, the price action had a decidedly different tone, with the prices hitting session lows at the closing bell rang.  In 2017 we saw two low of day closes all year.  Four months into 2018 the market closing at session lows in nothing out of the ordinary.

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