We have rallied for three days in a row. We are beginning to see a little shortening of the thrust on an increase in volume. Yesterday, all major US markets made higher highs, except the Nasdaq. It painted an inside day.
Inside days can lead to trending conditions. So, watch the Naz today for early clues.
Levels I will be watching today are yesterday’s high at 1358.50. Above this would be the 1360-65 area. If we start reacting, yesterday’s low (1349.50) down to about to the 1347.00 area should find support. Lower support comes in at the 1337 area.
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