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Originally Posted by coolhand

The week started off well enough as the market began to add to gains from the previous week, but the bears sent the market lower at the end of the week. The S&P and DWCPF both closed out with a modest weekly loss overall.




Still, the charts remain bullish. No market goes straight up and we do have a bias higher over the intermediate to longer term.

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A slight net loss ends a three week winning streak for stocks but also hides intra-week drama that divided the week between the bulls and the bears. The bulls had the week out of the gate and the S&P 500 was up more than 1% for the week by Tuesday. In the process stock indices passed the highs established early June. The gains were claimed to be unjustified by analysts that pointed to the top companies carrying the entire market. That became clear Thursday when a sell the news reaction to Microsoft's ...