Wednesday, September 17, 2014

Atlas Has Not Shrugged...Yet

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The Russell 2000 remains in consolidation as the bears appear to have failed once again to grab the bulls by the horns and push the market into a full blown correction.  The sellers were ready to pounce on Monday when this index broke down with expanding volume.  Then on Tuesday even more buyers appeared as bulls reasserted their presence.

Many leading stocks were crushed during the beginning of the week and the leading stocks have not recovered with the major indices.  I would expect more time is needed for leadership to emerge, until then expect a volatile ride as the market waits to see if Atlas will shrug.