It was to be expected that sellers were to make a concerted appearance at some point in June and today was the day. It was a rough day for me on the day trading front; overtrading, but managing to close with a profit thanks to the gain of thetook the biggest hits on the day, but there is plenty of support to work with despite today's higher volume distribution selling.) took a modest loss. This time, the trading range offers protection, so its significance is reduced.
There may be some follow-through lower for the S&P 500 and Nasdaq with last week's gaps a likely area to be filled over the coming days. Such action would coincide with tests of 20-day MAs, increasing the likelihood of such moves. As for the Russell 2000, it's anyone's guess.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.
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