By MICHAEL KAHN
The stock market is back at a key resistance level after rising on vapors. But does it have the strength to break through to the upside?
TO MEASURE THE QUALITY of any stock-market rally, we look at such factors as market breadth and volume.
Technical analysis textbooks tell us that truly healthy and therefore sustainable gains in the stock market are built on substantial participation by a clear majority of stocks. In other words, we need the public and institutions involved in a big way buying almost anything that looks decent.
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