Wednesday Was a Stalemate
The glass half full says “They really could have put a bullet in the market yesterday. But they didn’t. Good sign”. The glass half empty says” It didn’t follow through. Not good”.
The 200 day is close by and everyone is in hope mode right now. Nearly everything is pointing to a bear market transition and a strong move lower over the next full days will make it official. In the meantime, until this occurs, it’s still a correction and one that has begun flushing out a lot of the fast money that comes in with a 60 month old bull market.