Looking for an Anticlimactic Rally End
In August so far, there have been 20 trading days. 10 of those days -- 50% -- have seen the S&P 500 close less than 3 points in either direction. There have been three days with a "double-digit" close, two of them down and one up. But if we add up all three of those, it won't surprise you to discover that the two down days essentially cancel out the positive close.
Yet we're heading for the new month with total confidence in the European Central Bank's ability to do "whatever it takes" -- and, as the market has gone nowhere, the sentiment has gotten less confident in that view, at least anecdotally. I continue to believe that if the market slides in the next few days it will bring about some short-term fear to accompany the upcoming oversold condition....350 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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