Cautious Follow-Through Day Confirms New Rally

Cautious Follow-Through Day Confirms New Rally.Looking at the market, Monday, Day 16 of the latest rally attempt, confirmed the latest rally attempt when a “cautious follow-through day” was produced by the Nasdaq composite. This means that we will now be looking for any distribution days (high volume declines) to emerge to gauge the strength of this nascent rally. So far, it is a much welcomed sign to see the market continue to improve as investors digest the latest round of stronger than expected economic and earnings data. Remember that now that a new rally has been confirmed the window is now open to start buying high quality breakouts. Trade accordingly.