etfmsolutions: A Tentative Bounce...06.01.15

Monday, June 1, 2015

A Tentative Bounce...06.01.15

First trading day of the month and a Monday so we were expecting a bounce. After a volatile open and considerable stagnation at the pivot we finally got some buying in the afternoon session but over 50% of the bullish momentum evaporated into the last hour and we were left with a NYAD reading of just 1.08 (neutral) and a TICK of -200 (bearish). We can see the Ergodic/ADX divergence in the last 30 minutes and Tuesday's forecast is not at all clear. The last hour selloff doesn't bode well.

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