Well, that sure is not how you like to close them. Especially with volume picking up there while we sold off right after hitting the 200 day moving average on the Nasdaq. The good news is that the market still gapped high enough in the morning that all major market indexes were able to close with gains. But there was a negative blip in regards to leading stocks as the IBD 100 fell 1.2%.

I am not for sure about that answer but I have to admit the charts overall still look like they are trying to make a bottom. But like I have continuously warned about: if volume does not come back into this market on the upside, we are in danger of reversing some decent base building and that will probably discourage a lot of market participants which could open the door to more selling.

It was yet another very low volume market session that really proved nothing today that we did not already know about this market. The one bright spot that occurred today that was noticeable to me by the action in the stocks that were showing up on my price/volume scans. The IBD 100 gained a very impressive 1.5% compared to the overall market which was slightly lower across the board.