ISM Services After the Open

The market is trying to bounce off of support.

PRE-OPEN MARKET COMMENTS TUESDAY - The market was able to rally above the 50-day MA yesterday on light volume. In my opinion, that was not a strong show of force by buyers. The M5 candles on the way up were tiny and overlapping. If buyers were truly excited after the news from Foxconn, they should have demonstrated it. It's not like they were chasing an all-time high. This was a market dip that found support, key resistance was breached and they would have embraced the news. Late in the day, much of the move was erased. This would not have happened if buyers were excited.

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