Why is it so hard to see that the market doesn't know whether is bear or bull? We are inching up today on LESS volume than the move up yesterday.
At this rate we will fail to make a higher high this week, because buy volume will dry up at this rate. If we do not make a higher high, then we will confirm that we are still in a bear market.
At this point, basically people are just seeing what they WANT to see, because its completely unclear. But the trend for 5 months has been down, so the trend is my friend until confirmation of its death.
you cannot base a trend on volume. bidders are bidding up but nobody wants to sell. bears need to watch out for some serious volatility between 500-600. an old trend is not your friend. this one is behaving bullish, and fundamentals are bullish. If it continues to play out as I am expecting, we will be at 580 soon.