The baby bull that was born yesterday managed to avoid the matador's sword today. According to the Alaska Outdoor Journal, bears are curious, intelligent, and potentially dangerous animals. Traders must have stayed up too late watching fireworks, and came into work tired, grumpy, and looking to sell some stocks.
Investors still look apprehensive about putting any new money into stocks.
No alerts were triggered on Friday, as the markets did an about face. This weeks rally has not triggered any resistance alerts, but did move most sectors away from support. The rally on Monday triggered 8 resistance alerts. With three more resistance alerts being hit today, we have moved up support levels for all sectors to gives bullish traders a better perspective of downside risk. Yet again no alerts were hit.