The Commodity Chart Scarier Than Gold's
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Good Thursday afternoon, one and all. We have to give credit where it's due - though the market may be vulnerable here,
the bulls aren't going to go down without a fight. The longer the market can just hold the line and set up a technical base, the better the odds are we can sidestep a meltdown and see a bullish late-spring and early-summer. Now, we're not telling you it's going to happen that way. We're just saying the odds of a pullback just got a tad smaller. Let's start there today.
The good/impressive news is, the S&P 500 managed to keep chipping away, hitting another record high in the process. The bad news is the volume behind the move was not only low, it was pathetic. It wasn't just the S&P 500's volume that was pitiful either. The advances from the Dow and the NASDAQ didn't have any meaningful participation either.