Failed Breakout

The breakout to a new all-time high was smacked down yesterday.

PRE-OPEN MARKET COMMENTS THURSDAY - The market finally broke out of the trading range Tuesday and this was our chance to build on the move. Yesterday we needed to see follow through buying. The market made a new all-time high and it struggled to advance. By the close, all of the gains had been erased and the market closed below the breakout. This is a sign of selling pressure.

Daily Bulletin Continues...