The failure of the up move today means the stock market is still weak

The Stock Market sank Monday through Wednesday. Today, It moved higher until a wave of selling, starting at 2:50PM EST, dropped the close to just a tiny bit above where it opened. Yesterday, the market also fell, but started earlier, a little before noon. A rally at the end of the day had lower range and lower volume than the down bar that preceded it. The drop this week, takes the price further away from the long-term bullish trend line. A continuation of Friday’s bullish move could have put it back into the bullish trend channel. Until it does this, the stock market remains weak.

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