December 09, 2007 at 10:45 pm | | Comments 1

Bulls Breathing New Life?

Last week, the bulls bought a dip for the first time since October, and the major averages reached new recovery highs. The August closing lows for now appear to have been successfully tested, opening the door for some additional rebuilding if the bulls can stay in gear. Of course, the lacking element last week was volume, which is a necessity for lasting upside if we are to see it. To see it light in front of this week’s FOMC meeting on interest rates (Tuesday @ 2:15pm ET) isn’t surprising, so the key will be if we can see some follow through this week on improving volume levels.

Be sure to check out this week’s Market View page over at before you start your trading week for a closer look at the indexes and some chart comments which were posted tonight (and every Sunday).

Trade well this week!

Jeff White
President, The Stock Bandit, Inc.
Swing Trading & Day Trading Service

[tags]Stock Market, Day Trading, Stock Trading, Investing, Swing Trading[/tags]

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  1. Things are looking better. The S&P is back above its rising 50 day moving average. But it needs to break the resistance at about 1560.

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