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8 comments:
no pullback yet,
I'm afraid I'm missing the beginning of the rally. Let's see what happens next week.
My new poll is up. Please take a look.
Have a nice weekend,
Mkt Swimmer
The banks are acting badly again, as are the small caps. This is the type of action that preceded the fall from the July highs. I think given the circumstances, the lack of leadership in banks is definatly not a good sign.
I believe we will see a move down here just to scare everyone again.
The bottom could still be in but the DOW is 900 pts above the low now. A retest is quite a long way down.
It worries me when EVERYONE is expecting a pullback....
When everyone expects a pullback, there are a lot of stops set above the market and they get taken out most often. However, this does not mean that it's a good time to buy because the market will usually reverse quickly and violently as soon as those stop runs stop pushing higher.
Maybe everybody is looking for a pull back, the market will not pull back, but the low volume worries me. See more comments on my blog.
Thanks,
Swimmer
Low volume is to be expected this time of year. Friday's action was pretty bullish though for the short-term trend.
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