By Jeff Pierce

Don’t let the bears get you down. There’s absolutely no reason to suspect this recent breakout on the indexes should fail – at least as of today’s close.

Everything is doing what it should be doing to support further gains. Stay long hopefully you bought the dip like I was advising tradewithZEN subscribers. See this Nasdaq chart for our last buy signal on March 21. The Dow gave a buy signal on March 25th.

Financials need to hold these gains and push higher. Markets need to continue bullish ways to stay bullish. A pullback here would signify weakness in my book.

xlf

 

Bounced right at 50ma. Note the big Nasdaq up volume move.

 

compq

Today’s breakout above upper bollinger band looks very┬ásimilar┬áto that in early March which saw the markets rally strongly for that month. We never want to get overly bullish but right now I see nothing to be bearish about.

 

indu

 

 

2 Responses to “Markets Continue Bullish Ways”

  1. Thinksmart Says:

    A complete different story in few days with the earnings.

  2. jeff pierce Says:

    If we see enough strength between now and then I’ll likely be out of many of my positions.

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