9 Dec 2014 - Another Fake Out?

Are the Bears getting the shaft again?  There a few things to consider, and that's todays price action.  After pushing lower significantly markets have rebounded hard.  Although markets closed negative, the picture has been painted bullish.  For some price action dictates trend.  So to sum it up lets list the bullish and bearish points.

Bullish:
Reversal Candle - UP
Main Trend - UP
Price Closed Above 20 Day MA
Price bounced off Lower BB (Mentioned in yesterdays post).

Bearish:
ST Still Down
60min Chart Bearish
15min Chart Bearish (Both of which should stay bearish to keep things going the Bears way)
Price stopped below 60min 75MA
Individual stocks still sporting bearishness on a lower time frame.

For now, even if things look bleak for the bears, I urge you to follow the indicators.  Yes, it does lag when volatility comes into play, but it can also be said the same for bullish trades.  Who will come out the winner?  Only the indicators can tell.  For now, the bears are still winning the argument despite the convincing rally the market had today.

MT: UP
ST: DOWN
PA: NA