The major averages failed to regain their highs or even the resistance levels from last week. Yesterday, volume was absurdly low at only 6.8 billion shares due to the Yom Kippur holiday. That was the lowest volume day since July 10th. It was a short squeeze on the merger news and end of quarter window dressing and nothing more. Everything still appears to be setting up for a drop after Wednesday or more likely after Friday's jobs report. Longs may hold out hope for a blowout jobs number. Unfortunately the last two months are likely to be revised lower so any unexpected news could be down.
From a technical perspective, the 9810 resistance level on the Dow Jones stands firm. Unless we close above it with authority (high volume), we are likely to trend down. Moreover, MACD (reliable trend indicator) on the Dow is slightly negative.
I have acquired a long position on DOG for our fund, MD Capital Management. for specific details on the entry and exit points of each transaction, please refer to the "stock talk section".