The bears have yet to provide the follow through that we were all looking for, and quite honestly it concerns me that we still remain situated right on that trend-line from 9/1. I don’t think the bears are proving anything until they can push the market below the rising trend-line, and keep the dip-buyers away.
Its sort of like sports, if you allow good teams to stay in the game, they usually come back and win the game. Here, the bears are letting the bulls stay in the game, instead of putting them away – and that concerns me.
Here’s the Chart Analysis on IO.
