TheStreet.com RealMoney

Your Move, Bears

By Rev Shark

About this article:
Indices finished in the green, and breadth was better than 2-to-1 positive, but after hitting highs about an hour after the market opened, it was steady selling all day. We had some strong action in technology due to an upgrade and breakout in Intel and a good move in consumer staples due to good earnings from General Mills, but oil, retail and financials rolled over and finished in the red. With the end-of-the-quarter window-dressing, Russell index rebalancing, beginning-of-the-month cash inflows and pre-holiday trading, the indices have held up extremely well over the past week or so. On the other hand, we are unable to gain the traction needed to move through key technical resistance at around 930 or so. The bulls are certainly holding up very well, but they are lacking the drive that led to such a quick and vigorous recovery in May and early...

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