A casual look at the major indexes moving averages tells us it’s trend up. A three year old would confirm it.
Easy to call a pullback. But fear what’s easy.
This kind of action may create a melt up.
If not even bad news can shake this bull off it’s path, what would?
Wait and see what might setup for next week.
Naz 5,000, now the pullback. Gravity rules. Up trend remains strong. Multiple distribution days, including a small one Wednesday, create some hesitation. Perhaps we’re in the midst of a pullback to the 50-day SMA’s. This blogger was a self proclaimed genius the last time the Naz hit 5,000. Collapse of the tech bubble made fools […]
Major indexes inch higher. Volume patterns favor bears. We’re staying neutral. Positions Update: 20% target on WCIC hit. Cash register rung with half the initial position. Homebuilder fundamentals and techinicals bullish until proven otherwise. Stay tuned.
Homebuilders are back. This blogger’s anticipation of an industry wide breakout soured after a couple of less than rosy outlooks from key companies sent investors into defensive mode. That big, fat red volume bar tells us more than a few paws got burnt trying to play it. But the setup is back and poised better […]
The Russell 2000 is all alone under its high mark as the Dow, Naz and S&P 500 hit fresh breakouts. Our attention is focused on this small cap index because 1. That’s where we often find the best growth stocks and 2. This is a former leader in the recent bull market, so could be […]
