Stocks Bounce On A Busy Wednesday

Stocks slid on Monday and Tuesday but the bulls showed up on Wednesday and quelled the bearish pressure. However, several leading stocks sold off hard, and negated their latest breakouts earlier in the week, which reiterates the importance of remaining selective as investors attempt to figure out how earnings season will unfold. It is important to note that the current 45-week rally remains intact as long as the major averages continue trading above their respective 50-day moving average (DMA) lines. Until those levels are breached, the bulls deserve the benefit of the doubt.