Wednesday, November 12, 2014

Grinder Market Returns

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The low volume grinder market has returned!

The one distribution day last week never materialized into any wholesale selling as the Nasdaq simply rested for a few days and began moving higher again on Monday.  The inability of bears to push the market down from current levels suggest last month's rocket ride higher has built a solid foundation for stocks to push higher.

Additionally, stock charts that looked miserable last week (for example FB, TWTR, PCLN, AMZN, NFLX) have all started to spring to life this week.   At this moment it certainly appears stocks want to continue to grind higher into the end of the year.