Keeping our Buyer’s Caution despite light volume suggesting lack of thrust from the Bull.
Wednesday we had what followers of William O’Neil, of Investors Business Daily, CANSLIM’s method call a Follow Through Day, where institutional grade buying might suggest the Bull has legs.
With a number of top-earning stocks being well bid for we’d want to see it last a little longer for being convinced it’s not another suckers rally.
Beginnings of the month often see these names bought as fund managers want to add them to their holdings.
But overall light volume might suggest the trend isn’t all that strong.