The stock market's reaction to a heavy week of earnings reports was not encouraging. It reinforces the view from last week that now was not time to jump back into the stock market despite the widespread bullishness. The drop this week is likely to reduce the bullishness but a tradable low for the overall market many be a number of weeks away. The sharp gains on Monday were accompanied by signs that the rally was fueled by just a few stocks as I noted in Tuesday's Narrow Advance Warrants Caution....
The stock market's reaction to a heavy week of earnings reports was not encouraging. It reinforces the view from last week that now was not time to jump back into the stock market despite the widespread bullishness. The drop this week is likely to reduce the bullishness but a tradable low for the overall market many be a number of weeks away. The sharp gains on Monday were accompanied by signs that the rally was fueled by just a few stocks as I noted in Tuesday's Narrow Advance Warrants Caution....
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