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The Chartman

Wall Street’s Rally May Look Bullish, But Sideways Action is Still King

By The Chartman FOXBusiness

Wall Street’s Rally may Look Bullish, But Sideways Action is Still King

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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.

As for individual stocks, I usually focus on companies or services I use.  But, what about companies I avoid, but that my kids use?  Therefore, let’s look at Groupon (GRPN) and Facebook (FB).

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That’s it for this week.  Let’s hope the summer rally lasts more than two days!