No follow through…

spx_weekly10

Nice rally, but still no Follow Through Day.

We needed to see heavy buy volume come in. Without it the rally is suspect.

All enduring rallies have had Follow Through Days after four to eleven days from a market low.

With the 11th day pegged in today it doesn’t bode well.

Regardless, we would still need solid leadership from a group of stocks pegging new highs as we well as solid earnings momentum. Nothing there – yet.

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