Bears Grow Impatient
Eric De Groot | Oct 24, 2014 07:29AM ET
The bears, growing increasingly impatient with every uptick, have watched 10,200 and 10,400 zones fall without much resistance (chart 1). This ease of movement through resistance zones has emboldened the chasers to buy. Their confidence will grow as the size of their herd grows. As I have written many times, blindly following this or any herd is generally hazardous to one's trading/investing health. Today's reactionary rally (bounce within a downtrend of cause building), driven by seasonality ), ends only when the majority 'sees' continuation.
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