Stocks: Bears hate this rally

On June 27, we wrote that "a bounce in stocks is underway; this may be the one that tests the bears' conviction" and offered the below chart to show targets at the 50 and 200-day moving averages.

The first target was hit last week, and after a very brief consolidation, prices have again moved higher. Futures are pointing to a green open today; if bulls can maintain pressure, another wave of bears may be waiting to cover, perhaps fueling a rally comfortably past 4150 resistance up to the 200-day moving average.Bulls should be cautious as the medium-term trend is still pointing downward.

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Global stocks up after U.S. job gain paves way for rate hikeGlobal stocks gained Monday after strong U.S. jobs data cleared the way for more interest rate hikes and Chinese exports rose by double digits. What?! I thought the glorious Trump was the ONLY reason for gains in the stock market.
Source: CTVNews - 🏆 1. / 99 Read more »

U.S. stocks, futures rise as traders assess Fed hikes - BNN BloombergStocks and U.S. equity futures climbed as bond yields pared their recent surge and investors weighed prospects of aggressive Federal Reserve rate hikes against reassuring earnings.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

What advisors are doing (or not doing) with their own portfolios in this bear marketFour advisors break down how the bear market has changed, or not changed, their investment
Source: nationalpost - 🏆 10. / 80 Read more »