Dark Backdrop

It’s just like the market to put in a rally as headlines remain grim.

Institutions have been accumulating shares over the last couple weeks.

We’re seeing leaders emerge from our pool of top growth stocks.

Key sectors of Semiconductors ($SOX) and Retail ($RLX) are pushing north of key moving averages.

And while today’s price action wasn’t a rally, the fact that it’s held ground against all the negative news speaks well for the bull.

We’re bulls with a Buyer’s Caution Bias. We’ll be bulls until we see institutions start to dump shares en mass.