Are These Ideal Conditions??
The market closed in green for the third session in a row. As talked few days ago, lower prices in the oil crude (and the bounce in the Dollar) could led to a market´s bounce. This happened. But the problem remains the same: No volume. This environment is the ideal condition for the bears to step in and shake out weak hands off the table. The bounce could continue if some conditions persist, but I would take profits off the table quicky, because things could change soon. Remain open-minded with an eye on potential short candidates.
Here an interesting chart:
Celestica Inc.
(CLS)
printed a 12-month high four weeks ago breaking a four-year downtrend. The stock is moving sideways in a symmetrical triangle since then and could resume its run soon.
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