The Bulls Looking To Continue Rally

As we start the final week of July trading the bulls will be looking to continue the rally which has taken the DOW back above the 9000 level. I must admit I am surprised the markets have been able to rally on the earnings numbers that have been released so far during this earnings season.

In my opinion the earnings are weak and beating estimates only because the bar has been lowered to such a level that almost all reporting are “beating the street”.

The markets may continue to rally this week and close July in very strong fashion but I will continue to sit this rally out simply because I don’t believe it. I think the foundation of this rally is built on sand and the wave is about to come crashing in.

Time will tell, it always does - but I wouldn’t be buying the bull just yet.

2oversold.com is a blog for the individual consumer and private investor. We are not experts in the markets nor do we make any recommendations of any company. The companies we blog about are discussed for the purposes of this blog only and this should not be considered as investment advice.