The short term uptrend grows stronger by the day. The Bullidex (Bullish Percent Index / Volatility Index) has finally registered some new X’s. More stocks continue to rise above the 50dma on decreasing volatility. Finally, an increasing number of stocks are trading at new highs. Market internals continue to strengthen as an increasing number of…
Not much has changed, even with Friday’s +6% close. Even fewer stocks breaking to new highs. Optimistically, a couple stocks are climbing above the 50dma. Gold showed good strength, and GDX was up 26%. But gold is approaching resistance, so stay cautious. The market is still terribly weak. Gold miners may offer some upside potential,…
The S&P500 looks terrible… Really terrible… Invest with caution… Until some X’s get printed on these charts, it’s time to be short short short.