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.
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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 (NASDAQ:GRPN) and Facebook (NASDAQ:FB).
That’s it for this week. Let’s hope the summer rally lasts more than two days!