Helene Meisler writes a daily technical analysis column and TheStreet Top Stocks. For more information, click here. Meisler spent more than a decade on the sell side as a market technician covering institutional accounts at various investment banks in New York City, including Cowen & Co. and Goldman Sachs. In addition she worked at Cargill in Minneapolis where she managed equity money for three years. She received her bachelor's degree in business from Pace University.
The banks and small caps mostly sat out the rally, but the good news was the number of stocks making new lows was about half of what we saw on Monday.
Let’s dive into the positives -- such as fewer new lows and more new highs -- that tagged the mediocre rally on Wednesday, as well as the outlook for the iShares Barclays 20+ Yr. Treasury Bond TLT.
If we come back down because Tuesday's action was so pathetic, we still should rally again later this week.
Tuesday's rise disappointed, but any downside from here should bring on negative sentiment while we’re oversold, which should give us a real rally.
Markets have finally realized why there is selling pressure, but key indicators suggest an oversold rally could be in the offing.
The next oversold rally is going to run into resistance, but it can still be played.
Expect more volatility and scares ahead -- and even a possible rally this week -- as we move further into oversold territory.
Indicators confirm we’re moving into oversold territory while more scares – and a rally -- look likely this week.
Just a week ago everyone was back in the pool and now as sentiment readings move, they're jumping out as if, well, let's just say the movie 'Caddyshack' comes to mind.
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