So, as we look at the Dow Hourly chart below, the breakout from Friday of last week continued on Tuesday morning.
Since then, as we've grown accustomed to seeing, a sideways rectangular consolidation pattern(Red Box) has held the market in check for the past few days.
That being said, note the failed breakdown candle as pointed out in the chart below. This appears to have been yet another bear trap as the market quickly reversed course and pulled back into the rectangle.
So, all things considered, we wouldn't be surprised to see the market trade higher tomorrow.
If so, our holdings, which have shown relative strength recently, should get a nice boost.
Stay tuned for tomorrows action.....