The market ended mixed on Tuesday following a midday swoon into negative territory and a rebound into the close. With many Wall Street traders on spring break this week, volume has been light that tends to lead to choppy and volatile sessions.
The bears pushed the wiggle room we gave the bulls coming into the week as Tech and the small-caps tested their 200-day MA’s (moving averages). We have said a close below key support levels could have us joining the bears, and at some point this will happen, but as long as the trading ranges stays intact, with a chance of higher highs, we’re sticking with the bulls. (continued…)