September 6, 2017 | Timid Buying a Worrisome Sign
The broad averages were adrift Wednesday, edging timidly higher on vaporous volume. What few buyers showed up intraday had vanished by the closing bell, leaving index futures to fend for themselves in so-far-turgid night-session trading. I suggested a bottom-fishing foray in the tout that went out this evening for the E-Min S&Ps (see below), but this was for night owls only, and nimble ones at that. They should be prepared to see the futures fall to 2443.50 if the trade is stopped out, but everyone should brace for potentially much worse if the support gets pulped.
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Rick Ackerman September 6th, 2017
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