Leadership Is Lacking
The low-volume, V-shaped bounce continues. With both the U.S. and European central banks ready to act at the first sign of problems, market players have put aside their worries and continue to walk the market higher. There isn't much energy, but the buying is steady and it is crushing the bears trying to fight it.
What makes it challenging is that there aren't any strong themes or leadership. We just have generally positive action that feeds on itself as more and more underinvested bulls get sucked in. Breadth is quite good at better than 2 to 1 positive, and the only major sector that isn't up is the defensive pharmaceuticals....63 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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