A false breakout on Monday followed by three down days, and finally a gap up on Friday … That’s what you call challenging market conditions.
Last week’s headline pointed to some limited upside potential but there was generally thin participation.
It’s a similar sentiment this week but with the added comment that the bearish setups do look generally tidier.
With some notable exceptions, earnings have been pretty dull. As I review at least 200 stocks, the bullish setups aren’t as attractive looking as the bearish ones.
This would suggest again, limited upside.