Another rally filled with Hope

Today we had a great rally which was enjoyed by the media and by the Bulls. They hope that this is the beginning of a new upward trend. Alas, I think they will be very disappointed. For the next few days the markets may continue to go up. Why?, it is the beginning of a new month and many people put money into the market at the beginning of the month. The test for the uptrend will be whether the volume and the upthrust can continue. In the past, there was no follow through, and the markets began to go down again. I believe the same thing will happen with this upward move. It will run out of steam. Time will tell. I believe the downtrend is still in play for the intermediate and long term periods.