Major averages rose yesterday on higher but below average late summer volume. Both NASDAQ Composite and S&P 500 closed at new highs. Barring any unexpected material news, expect continued lower volumes ahead of the long Labor Day weekend.
GW Pharmaceuticals had its second pocket pivot in August yesterday as it comes up and off of the moving average confluence around the 89 price level.
Amazon.com (AMZN) had a bottom-fishing pocket pivot yesterday as it comes up through its 50-day moving average. Keep in mind the stock has gapped down 3 times this year and remains below its 200-dma.
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