Major averages moved slightly higher yesterday in a tight trading range on mixed volume. This is overall constructive for the markets as it allows moving averages to catch up with price.
Fairly calm markets prevail so far in today's trade. Futures are mildly higher. Gold and silver have rallied over the past two days and continue to do so, something we discussed as a possibility in our Monday Pre-Market Pulse report.
Twilio (TWLO) failed to hold a gap-up move at the open, but found support at the 10-day moving average on an intraday basis and closed up on very heavy volume. The move was not enough to clear the highs of its prior 3 1/2 week price range but does have the look of a stalling sort of pocket pivot at the 10-day moving average.
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