The market did very little on Tuesday, unable to move higher because of yesterday’s camouflage sell signal and supported by the latent bids from the bulls. There is nothing new technically other than the pattern printing 7 days up in the Seeker setup.
The NQ futures posted a similar day, weighed down by the camo sell signal. Volume across most trading vehicles was very, very light.
Multi sector daily chart:
The NYSE 10-day Trin has retreated back to the neutral area. While the oversold energy has now been depleted, there is room to go before an overbought reading is recorded.
GDX was the best performing sector on the day:
The SOX was slightly lower on the day:
The OSX posted a narrow range inside day:
The BKX was much weaker than the broad market but still managed to post an inside day. Keep in mind the resolution of an inside day usually packs more punch then a typical day.
Oil is still consolidating just above the 100 level.
Gold was lower on the day but recouped a bigger loss by settlement.