Good morning. The vast majority of the time, the stock market tends to respond to news inputs in the short-term while moving to and fro within the primary trend. However, there are times (such as we are seeing now) when the primary trend is in question. Thus, how the market reacts to the news is oftentimes more important than the news itself. Friday's market was a good example of this idea: Traders were treated to what appeared to be good news out of Germany and France, yet the bulls couldn't seem to do much with it.
While the Dow and S&P did manage to finish with green on the screen, the same can't be said for the Nasdaq. And in short, "the action" was disconcerting to those who might have expected to see an oversold rally get legs in response to Germany backing down from its stance of the mandatory
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