Online Stock Trading | Stocks Stage a Bullish Day

Stocks Stage a Bullish Day


Filed Under Market Commentary |

6:55amEST  Stocks find some footing, end higher on higher volume.

Enter:  Bottom Callers!

However, if you look over the past two weeks you can see we have gone absolutely no where.  We are a car stuck in the mud with our tires spinning.  Unfortunately, for the market all but Thursday’s trade has ad volume pointing to lower stock prices.   We haven’t seen any washout to confirm a bottom like we saw on Aug 16th.  This market needs to see extreme fear, capitulation before we can be certain we’ve seen a bottom.  Even more important we need to see some sort of leadership form in this market.  I continue to look but do not see any type of new leadership forming.

The market needs two things:  Leadership and Accumulation.  Thursday’s trade was the start of some accumulation, it had its flaws but positive nonetheless.  I would have liked to have seen the market rally into the close to show some conviction.  However, we did not rally to the highs of the day and just finished modestly.

Watch yourself in this market!

Market Speculator

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