Backing and Filling
The bad news is that the market did very little today. Volume was extremely light, and with the exception of Apple (AAPL), there just wasn't much going on.
The good news is that this is exactly the sort of action we need to set up further upside. We need to consolidate and back-and-fill a bit to create a new base of support. We've run up quite a bit so far in August, and if we are going to blast higher on some sort of central bank announcement in the near future, it helps if we work off some of the excess froth first....117 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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