Another Change in Character
Once again, we have evidence that the character of the market action is shifting to bearish. We had an almost euphoric response to the better-than-expected ISM report, but all the major indices except for the Dow have given back the entire gain and more. The DJIA is covering some poor action in the Nasdaq and the Russell 2000, both of which are now in the red.
We have had quite a few intraday reversals in the last seven or so trading days, and this is a new development. Typically, once the bulls are running, we have had trend days. Anyone who tried to fade the strength was crushed, but the bears are having much more success later....127 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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