Story
Rally Rolls Into Q4
The technical condition of the market showed some deterioration as the month came to a close, but the bulls were still in control. The technical indicators were mixed with MACD, a short-term trend gauge, neutral after crossing briefly into bearish territory while Momentum, as measured by the 14-day RSI, was positive but had slowed from earlier in the month. The weekly charts remain bullish and suggest we could see further upside before this rally runs out of steam. Low readings in the VIX suggest that traders believe recent data can prop up stock prices over the near term.
Click HERE to get the full story in our monthly On The Edge.