Of Course, This Matters Little
The most important thing to know about Friday's action is that it isn't very significant. It is nice that the mood has been upbeat and that the market is carrying a positive bias, but the price action has little to do with the things that usually matter, such as macroeconomics or even fundamentals. The market is just being pushed around by traders who are trying to take advantage of positive sentiment and light volume. On Monday it will be back to business, and the action is apt to be much more mixed.
The bearish technicians are going to be talking quite a bit about how this week's oversold bounce has now run its course. We're seeing a classic move into resistance on declining volume, and you can bet that there will be plenty of bears wagering that the market will roll back over....135 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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