The week of February 5 was devastating for the bulls. The week of February 12 was devastating for the bears. I have a feeling that the shortened week we’re approaching after Presidents’ Day will have the torch back in bear hands. Sure, we might have a little more strength, but we are so deliciously close to major gap fills, I am looking ahead to next week with anticipation (and, admittedly, some anxiety). These markets, in spite of having greatly different components, all pretty much look the same. The emerging markets:
This morning, the auto parts retailers opened up strong and reversed down hard, closing their gaps:
The subject kind of says it all……….it’s been quite a ride down, but for this stock, it’s probably done for the moment.