The Bulls don’t have much to hang their hat on lately. Though the market is till up slightly for the week there has been little in the way of a sustainable rally.
In looking at price-action, it’s usually emotional money that opens the day, and smart money that ends it. For most of the week sellers have dominated the closing hour of the exchanges.
If you’re a Bull, you could only hope that the selling volume dries up and we begin to see institutional grade buying.
If you’re a Bear, you jus twant to seit back and continue to watch it unravel.
We will hold our Bearish bias until the market tells us otherwise.