It is too soon to react... but I have put any bullish buying on hold... preferring to bid than participate in any price chasing, sticking to very strong fundamentals for a dip. DML.TO has shown some nice gains this morning, and I would look to swinging if it doesn't hold over the next few days. Uranium is a bit whippy on most of my favorites... and I feel the TKO.TO has been a shock to many holders who may be dabbling in other issues, causing them to move to cash to offset the losses, which are sizable. A smack in the common sense department.
The selling pressure could also be more likely something in the wind with institutional buyers we have yet to see, involving the elections in the states. Gold and silver may take some knee jerk... and a quick look at my watch list shows a broad back fill in motion. A sea of red if you will.
A quick look at the Venture and Toronto StockCharts Public Chart List is displaying some more than average selling pressure (distribution).
Issues that have not spiked on exuberance (lack of overhang) should hold bullish positions.
Something I have noticed, not written in stone, is Wednesday has been for quite a few weeks a heavy distribution day, in spite of which the markets have bucked, and gained a bit. looking at the charts, the day after any two or three distribution days has recovered almost immediately the following day, picked up from the down close... anything less would be foreboding. I do not imply a market crash... but a correction is suggested in some of the shorter term indicators.
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