James "Rev Shark" DePorre
Recent Articles By The Author
The idea that the lows of December could be retested now seems far-fetched.
We have a gap-up open and some poor earnings news -- and once again the bears are on the run as they keep trying to guess when a turn will occur.
By any definition we are in an uptrend, but the character of a market can shift.
A retest of the recent lows in the major indices after their recent big run likely won't happen any time soon, but there could be a substantial drop before support occurs.
It would appease some bears, allow some profit-taking and help to make sure there is some good support.
Market players are now focused on what can go right rather than what can go wrong.