Tuesday Outlook: Bulls Remain in Control

July 27, 2009



Yeah, that’s it—when volumes are as light as this, traders just push their “easy button” and markets are propped. Bad news, good news or no news, it makes little difference when you’re in control. So, who’s in control? The usual suspects.

And speaking of those, New York Magazine just put out a good and thorough read on Goldman Sachs (GS). Everyone is jumping on the pile now except Buffett, other shareholders and the bonus babies. No doubt they hope time will make it all go away and given past experience, that is the likely outcome.

As indicated volume was light and breadth positive.

click to enlarge





The McClellan Summation Index is reaching for its previous highs. Some believe this is a non-confirmation with markets not near new highs, making current readings more doubtful.






































































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