Last week the broader markets stalled their advance from the Christmas low as they reached their respective price resistance areas.
The majority of those advances have been in full control of the buyers with hardly any pullback or sideways corrective action.
This is actually the first week from the low that prices did not make a higher high on the weekly time frame of the four main broader market indices we follow.
The majority of the broader markets and sectors followed are still in weekly downtrends. Three sectors have retraced enough to become sideways trends.
All have moved into their respective resistance areas, a few with retracements beyond Minor Resistance (mR), and last week’s stall, confirms selling there.
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