Today played out as anticipated today with a quick push up and profit taking. The rest of the day saw sideways trading and an attempt of basing in search of a new support. Key hourly levels on watch are highlighted within.
Keep in mind the past 10 weeks have been an incredibly bullish market environment, which is perfect for MJ bull runs to thrive in. We've been seeing weakness for the past few days and if this weakness in the S&P500 continues, that will have downward pressure on the MJ sector as a whole. Never lose sight of what the overall market is doing!