It was a pretty quiet day today with low volume and little price movement on the indices. I am seeing a lot of bearish candlesticks on overbought stocks that are bumping up against important levels — be they moving averages or upper Bollinger Bands. So I wouldn’t be surprised to see more consolidation and/or an outright pullback in the coming days.
Here’s a chart of the S&P 500:
BTW, I have a few GMail invitations, so if you want an account let me know. I’m all out now.
