1-May

The bear growls

Hello SpikeTraders,A Member in Australia asked me why I wrote in last Thursday’s NHNL: “In my experience, the character of today’s rally is much more typical of bear market than bull market rallies.” Bull market rallies tend to be less dramatic and much longer lasting. They are driven by happy people coming in to buy more. Bear market rallies are driven by fear among late-comers who shorted too late in the downtrend and are now running for cover. Those rallies move much faster, but they don’t last. As you could see last Friday.What to expect this coming week? I wish the rumors of Kerry possessing a magic crystal ball were true. Since he vehemently denies those rumors, let’s look for answers on our charts …

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