A Critical Test
Well, the major indices have certainly rallied. Now it's up to the market to determine whether it will constitute the right shoulder of a small head-and-shoulders top, as I've hypothesized, or if the upside is stronger than that. I do not believe we will know for at least another week or so.
As I explained after the July 4 holiday, these next few weeks will be a test for the market. Some of the intermediate-term indicators reached their first overbought readings July 3 and have backed off, so the next step is the test to see whether they can achieve higher highs....630 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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