Weekly Market Update: Recovery

While the 10% pull back was not as large as the 20% pullback in 1987, it was still exciting for a market that just doesn't want to stay down for the count. Jesse Felder has a blog post referring to an interesting read last October by Robert Shiller outlining how a drop in the market can still happen along with the psychology behind it. See the New York Times article.

The CNN Fear & Greed Index is logging Extreme Fear. A reading we haven't seen in months.

And finally, one of my favorite blogs, Decision Point, has an in-depth review of the market titled, Bear Market Rally Over?

At this point the Stan Weinstein indicators are all back in the green (minus the dividend to Dow). The major indexes came close to their weekly moving averages but didn't actually touch them.