Last week’s action in the stock market was certainly disappointing. The broad market did not react particularly well to the good news that it received last week…and when it got bad news (late in the week), it did decline in a material way. That’s not what investors want to see. They like it when “good news IS good news”…and when “bad news is good news” as well.
That said, we’re a long way from declaring an end to the huge rally we’ve seen off the April lows. So, this week should be a very important one. Whether the market can bounce back quickly or not should be key…and we have one item that we’ll be looking at on the charts which should give us some important answers.
