Move On Up

After Friday's rally, many market participants were disappointed on Monday by a lack of follow through rally. Instead of a rally, the market sold off on Monday and that prompted many market participants to question once again whether the market is entering into a bear market.

The answer to that question is depended on which stocks you are holding. Majority of the stocks are in bear territory already while many indices are still within touching distance from their all time high.

For the SPX and the SP500 emini futures, the price action depicted by their price charts could be indicating they are still moving up toward higher prices.


SPY:

(click on the chart to enlarge)



ES_F: