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by Rev Shark

The bad news this week was that we had a four-day streak of poor action. We held about even on Tuesday, but then sold off the rest of the week. The good news is that it is exactly the sort of consolidation we need. We were a bit overbought as the major indices attempted to make new highs and now, after backing and filling for a few days, there is a pretty good foundation for another run at the highs. The selling this week wasn't particularly vigorous. We didn't hit any major air pockets and the dip buyers showed up late every day to do their thing. It was just some mild selling from some profit taking and movement of shares into stronger hands. Much of the action continues to be highly correlated to any movement in the dollar, which is making for some very reactionary...

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