The U.S. market remains in an Uptrend Under Pressure. The S&P 500 bounced off its 50-DMA after a sharp sell off earlier this week. The Nasdaq , which is already below its key moving averages, is bouncing into resistance at the converging 50 (13,540) and 100-DMAs . The distribution day count stands at seven and four respectively, with one day expiring on the S&P 500 next week.
