I didn't post it yesterday, but was watching what looked like distribution in DECK. There was heave and sustained volume with sideways to down movement of the price. This coming near long term highs tells me the stock is being sold to willing buyers as much as possible. Or at least there seemed to be a change of heart with many holders of the stock. Retailers have been disappointing lately with earnings and outlook.
The major averages down sharply on the open today. Buying appears as expected early in the day. Dip buyers are a feature of any older bull market. Time will tell if this day is any different, but one should pay attention to that Yen trade/chart that I have highlighted in earlier posts. Something may be afoot.....
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