TheStreet.com RealMoney

Market Still Has a Lot of Work to Do

By Rev Shark

 About this article:
 The bulls managed a little bit of a bounce, but overall there is little energy to the buying. Oil continues to stay near highs, and until that changes, this market is not going to be able to do much on the upside. One of the most troubling things about the action over the past month or so is how weak the bounces have been. Market players have been much more inclined to sell into strength rather than worry that they are missing out on future upside. The bounces do not indicate any pent-up buying demand. There is little anxiety about being left out of a rally. Despite that lack of vigor, we still seem to have a fair amount of hope. For example, we have the usual folks on CNBC delivering "happy talk" and excuses for poor economic reports. That certainly is in conflict...

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