Online Stock Trading | Bernanke comments on the hill help stocks to rally on Day 2.

Bernanke comments on the hill help stocks to rally on Day 2.


Filed Under Market Commentary |

My apologies, this will be quick!

Big move in stocks (SEE HERE).

  • Volume soared across the board, 29 out the 30 Dow Jones Industrial average rose.
  • Bernanke did not hint at any major money policy changes.
  • Breadth was excellent (SEE HERE)

Is it time to jump all in? No!

Today’s move I believe is far too early for us to go hopping on a bandwagon. Too many anxious bulls are in the market now. Beware, I just don’t think there is enough pessimism to warrant a confirmed rally. Time will tell. Keep building you watch list and sit on cash until we can get a healthy confirmed market rally.

MktSpec

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Comments

One Response to “Bernanke comments on the hill help stocks to rally on Day 2.”

  1. Elliot Dole on July 19th, 2006 8:42 pm

    Finally these oversold levels equal bounce.. and into the end of the week, too. I like to see a strong weekly close for higher prices.

    Have a good end of the week.

    http://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID1798149

    check out: ilmn vmi

    E

    Have you read trading in the zone?

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