On Thursday the S&P500 closed at its third highest level of the year – and the Nasdaq posted solid gains. The gains actually took the U.S. market ahead for the week despite what was a pretty ugly Monday.
For the past half-year now, buying pull-backs and dips has paid off and it appears that it will take some unexpected bad news and/or perhaps some failed bounces to change this market mode. Of course, though, our readers know that we believe that economic problems are not all solved – so that there is always the potential for some bad news to emerge.
But right now the Bulls remain in control, seem pretty happy and can claim that trend that is your friend -- so we will continue to look for chart set-ups and be involved in small ways, with a particularly watchful eye on those overhead resistance levels. We are eyeing some precious metals and miners.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment