Published July 27, 2012
Wall Street’s Rally may Look Bullish, But Sideways Action is Still King
Even though Wall Street’s rally this week may have looked bullish, sideways action still reigns supreme.
Last week I noted the market was tough to read and this past week’s action certainly confirmed my thesis: the consistent theme was choppiness!
But, the Dow is back to new monthly highs and that could be a bullish indicator. Still, I think sideways action is still king.
That’s it for this week. Let’s hope the summer rally lasts more than two days!