Matt Blackman

Wednesday Outlook: Bulls in Command

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...