NEW YORK (TheStreet) -- As mentioned in Tuesday's article, the fact that the stock market closed down on Tuesday with decelerating volume was bullish on the margin. With that down day on Tuesday, the stock market could resume its upward movement.
Well, Wednesday turned out to be an up day in the stock market, as predicted. The DJIA finished higher by 91.26 points to close at 16651.80 while the S&P 500 was higher by 12.97 at 1946.72. The Nasdaq finished up 44.88 to close at 4434.13 and the Russell 2000 was higher by 8.75 points at 1141.78.
However, a major negative was the up move on decelerating volume, a common theme for 2014. Just as the decelerating volume on the downside Tuesday was bullish, the decelerating volume on the upside Wednesday is bearish on the margin.
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