Although the major indices technically remain in their nearly week-long sideways consolidation patterns, yesterday was the second consecutive day that the broad market rallied late in the day to close near session highs.
The main stock market indexes have drifted in a tight, sideways range for the past four sessions. Since volume during this period has been light, it is a sign the bulls are merely sitting on the sidelines, rather than selling into strength of the recent move.
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