Monday, June 1, 2009

Market Mondays

The same commentary applies to all three major averages. All three are in consolidation patterns at the top of rallies. Prices and SMAs are in tight ranges indicating traders don't know where to go next. On the good side, the indexes are hanging onto gains made in the rally. On the bad side, the rally is stalled waiting for some type of indication strong enough to send the markets in either direction.