Looking for a Pullback
20th October 2009
The market continues to slowly drift its way northward, adding to the profits of those who have been bullish for quite some time. It does not matter if you are looking at a daily or a weekly chart, stocks are once again at the top of the Bollinger Bands. In addition, most momentum indicators are falling while the market is rising. While this can continue for quite some time, a pullback to the bottom of the Bollinger Bands is likely to provide you with a better buying opportunity than last week’s breakout to new highs.
JD
