The bears came out of hibernation last week after a long winter and made some noise following the market’s pullback back to support. The bulls and Boston came under attack on Monday as our Nation and Wall Street was battered and bruised but both showed what America was made of following the aftermath.
The people of Boston ran towards the bombings to help those in need of care and their acts of courage and humanity were uplifting and amazing to witness. The bulls picked themselves off the ground on Tuesday but the Financial stocks and Tech failed as backups with earnings reports.
The bears used steady pressure on Wednesday and Thursday to crack the first wave of support but the bulls fought back to win Friday’s session and reclaim it. The uptrend lines are still intact for the major averages and while there does appear to be a downside bias, the possibility of another trading range could also be shaping up. (read more…)