Earnings Set the Tone

As the indices continue to inch higher, complaints about being underinvested continue to grow louder. If you take a trend-following approach, you shouldn't be heavily long since the market is still in a downtrend. Nonetheless, it is still frustrating not to be more aggressively long with these sorts of bounces.

It is always interesting how the psychology tends to shift when there's a bounce like this. Even those who were convinced that the downtrend was going to gain momentum now have doubts, although there is nothing to indicate that this is a major turning point. It is exactly the sort of countertrend action one expects, but it still plants doubt in the minds of bears who were certain just a few days ago....110 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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