Bulls Won't Back Down
The bears are working hard to crack this market but without success. It bounced back very quickly from a weak open and immediately shook off a poor consumer sentiment report. There is still good dip-buying support. The bears' growing confidence that this market has to fall apart soon is also giving it a little short squeeze.
Trading in individual stocks is sloppy and pockets of momentum have shrunk, but the bulls aren't ready to back off. Breadth is negative with about 2400 gainers to 2500 decliners and there is more weakness in the high-momentum names, but there isn't any big rush for the exits....113 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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