Outlook May 4

We finally got some serious down days last week.
The most recent “Red Period” has produced a 20 point loss for the Nasdaq Composite Index.
The stock market has been largely flat throughout the period, which means the market continues to display signs of strength.

We are now set for another rally attempt and possible new high for this move. But how convincing a move will it be?
That will probably tell us a lot going forward.
If the current Green Period turns out to be weak, then we better get ready for some extended downside action.

Greetings, Danny