Respect the Action
The market is holding up well and all the major indices are trading near their intraday highs. The bears are unable to get anything going in this thin trading and there seems to be a decent supply of impatient dip-buyers. Although the market is still technically extended, there just isn't any interest in profit-taking.
The big question is what will happen on the monthly jobs report tomorrow morning. As I mentioned, Goldman Sachs ramped up its predictions and expectations have gone up after the ADP released its number. Is this a setup for a "sell the news" event, or is it just another potential squeeze of the bears who are trying to call a top?...207 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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