Uneasy Being Green
The indices have slowly walked up into positive territory after a negative start, but traders are yawning as they were hoping for sharper movement and better volatility. The action was strong enough early so that there wasn't any really big bounce, but it is still too weak to produce any real buying momentum either. It is dead-cat behavior and that is leading to a bit of a short squeeze as the overanxious bears are being trapped.
This sort of bounce after obviously negative news always gives the bulls hope that a bottom is in and that it will be clear sailing to the upside, but technically the pattern in the indices does not provide a high level of comfort....168 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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