Wednesday Outlook: Bulls in Command

The news continues to be terrible but bears can’t seem to take charge. Mr. Market’s been teasing both bulls and bears alike it seems. When the news is bad and stocks are able to shrug it off, you know bulls are in charge.

Volume remains light and breadth is as negative as one might expect.


















































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Comments

[Matt Blackman]

Yes, a very interesting market indeed. Normally, stocks fall 'of their own weight' on light volume but that hasn't been happening. Someone has been buying but not in a committed way. On the other hand, the lack of volume means that stocks can't really go higher in a sustained manner because it takes increasing volume to support a rally.

So here we languish in no-man's land... and earnings will determine whether we stay or whether we go (higher if they get better or lower if they continue to get worse)... If we are at a bottom though, and we rally from here, it will be relatively short-term based on my indicators...

[proseadvocate]

Good thorough work and commentary