Post by G on Dec 3, 2008 21:05:47 GMT -5
Well, it's been awhile but today's edition had a new update on the Market Pulse. This reflects Tuesday action of an up day with large volume after day #4 of a Rally attempt, so technically, this makes the pulse change to:
Market in a Confirmed Rally
Now, everyone knows this market has been brutal. Even IBD says the last 3 Rallys which began on Sept 25, Oct 16 and Oct 28 all failed. A confirmed rally doesnt necessarily mean clear skies ahead. And this one too can fail. But, there has never been a bull market without a follow through day. And eventually, one of these will stick.
It would be nice to get what is known as a Santa Claus rally in December. Its hard to believe, but the market has been up 7 out of the last 8 days and that one down day was huge! But, remember, its only a technical.
Market in a Confirmed Rally
Now, everyone knows this market has been brutal. Even IBD says the last 3 Rallys which began on Sept 25, Oct 16 and Oct 28 all failed. A confirmed rally doesnt necessarily mean clear skies ahead. And this one too can fail. But, there has never been a bull market without a follow through day. And eventually, one of these will stick.
It would be nice to get what is known as a Santa Claus rally in December. Its hard to believe, but the market has been up 7 out of the last 8 days and that one down day was huge! But, remember, its only a technical.
