08Aug1:53 pmEST

I've Got My Toes in the Water...

Bulls are holding the line today, which folds neatly into the baby step they took yesterday. As I write this, the small caps in IWM are maintaining their move back over their 200-day moving average while tech stocks in QQQ are doing the same for their 50-day moving average.

As long as there is no complete rollover into the bell, it appears as though bulls are making more tangible progress and that the selling we saw dating back to last week may have served most of its purpose in terms of keeping longs honest and instilling some genuine fear back in the market. 

The Scene of the Crime Averting Danger

 
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