Take a close look at the volume total for the last two days. Volume has dropped big time. That should concern anyone because it says that people are standing on the sidelines rather than participating in the market. Also note that prices have not been able to move higher. It looks like we are getting a cluster of price points right about the 10 day SMA that are just going to sit there for now.
On the good side, the SMA picture is looking good. The 10 day SMA is still moving higher and the 20 day SMA is about to move through the 50 day SMA.
However, as I pointed out in today's long post, the lack of overall market breadth is concerning me a lot.
