Another lower than average volume move up today puts us right back at where we started the week. The losses from two days ago have been completely recovered, and both indices are back above their 10 day moving averages.
The only concern with this is that volume was lower across the board. However, nowadays anything goes so volume aside the market has successfully retraced its steps and found fresh strength. Unless we fall back below the 10 MA tomorrow, we should expect a re-test of last week’s highs sometime next week.
As usual there will be no market recap tomorrow as it is Friday. So stay frosty (sharp) if trading tomorrow, have a great weekend, and I will see you back here on Monday :).
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