Support Continues to Hold
The market continues to see very impressive underlying support. We may not be generating much upside, but the bears still aren't having much luck with the downside. Volume is light and breadth around flat, with oil and energy leading once again. Precious metals and solar energy are the laggards.
The bears' primary argument right now is that higher gas prices are going to matter, but the way retail and restaurants are acting, consumers don't seem overly concerned. The restaurant group is usually quite sensitive to gas prices, but so far there is little weakness. When restaurants start to struggle more, we'll know that gas is an issue....148 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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