Online Stock Trading | Stocks Stall, Fail to Extend Gains

Stocks Stall, Fail to Extend Gains


Filed Under Market Commentary |

Day 2 of our most recent attempted rally failed to impress as stocks lost ground and volume came in lower on the day.  Stocks spent most off the day in positive territory but it was all on light volume.  It seems most can not jump on the stock bandwagon and push things higher.  This lack of conviction only increases the odds of this attempted rally will fail.

An important bull vs bear sentiment indicator crossed for the first time since 2005.  The II survey of investment newsletters saw Bears cross the Bulls.  Now, many believe that this survey will market a bottom when in fact this situation can proceed an actual bottom by many weeks and sometimes months.   I’ve pointed out in this article that other indicators are not showing a market bottom.  At any rate, Cash is King until we can get a sustained market rally.  I just do not see one on the horizon.

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