Saturday, September 20, 2014

Bulls Stayin' Alive

The Market Trend Model (http://bitly.com/M_Trend_Model) continues to show a mixed market.  The bears looked as if they would take the bull by the horns on Monday and push the market into a full blown correction.  But, once again, the bears failed to follow through with any meaningful conviction and the market rallied through the middle of the week.

However, market internals did not confirm the snap-back rally and Friday saw a gap up open turn into a reversal.  Sloppy, choppy action for both bulls and bears alike. The weekly time frame remains positive (except for the still lagging Russell 2000) as bulls continue to keep this rally alive.