A screen displays a financial data graph. (Photographer: Alex Kraus/Bloomberg)
The market seems to be playing that old game of two steps down and three steps up. Now, this game is typically played when the market is in a range. For the last several weeks we have been trying to find a way out of this mess of a consolidation but the market has not obliged. Every time it seems to threaten a down-break, something comes along and saves the day. Just as we start hoping for some upside resolution, some bad news rears ...