Dr. Steenbarger described yesterday's upside fakeout moves well in his post, which is indicative of a bear market. However, start watching for a possible spring rally. Even Art Cashin has been talking about a St. Patrick's Day rally for about a week now. Last year we had a spring rally which lasted into the middle of May. If this occurs, the fakeout moves could be to the downside rather than the upside.
Charles
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