Stock market bulls gain some strength

The U.S. stock indexes have moved up from their for-the-move lows scored in mid-June. More price gains in the near term would begin to suggest market bottoms are in place in the indexes. Bears can correctly argue that a price downtrend is still in place on the daily chart and it must be negated before the bulls can gain any significant strength. That would mean a move in prices above the May high of just above 4,200.00. Stay tuned! —Jim Wyckoff