MM Opening Notes

MMI calculates today as a likely close up day, but the "bullish exhaustion" mood component says that bulls will give it everything they've got until there is nothing left.  It's not clear if it will make through the day or give out tomorrow (also calculated as up).  Longs should still definitely be careful.  Also, the Moving Average Momentum (MAM) indicator is looking for a significant trend change between today and June 6.

Dr. Cari Bourette is an analyst at ElliottWaveTrader.net, where she provides her proprietary market mood analysis in our flagship service, "Avi's Market Alerts."