Market Breakout or Fakeout

Since the middle of May the market has been in a sideways trading range with a downside bias. The bulls are now gaining an upper hand in the bear / bull battle.

The stock market is poised to rally for the short term. While short term the market has turned positive, the intermediate term is still bearish. A tradable rally may be at hand, but volatility is high and the sustainability of a potential market advance remains in question.

I am cautiously optimistic.