Accentuating the positives!

Email from one of my 8 fans:

Gary, is there any way you can write a report accentuating the positives? After all, with all the supposed negatives, the major indices are hardly down from their highs.

Great point but we already do that. In spite of the many negatives, we are always listing the things that are working and the fact that major indices have not even gone into correction mode. Every one of our weekend reports contains those areas that we are bullish on. But in the spirit of cooperation, here ya go.

In spite of Greece, in spite of Puerto Rico, in spite of $18 trillion of debt, in spite of shoddy earnings and sales, in spite of the Semis getting smoked, in spite of the Transports lagging, in spite of a huge bear market in commodities, in spite of huge deficits, in spite of Apple breaking support levels, in spite of 60 percent of the market being bearish, in spite of the too strong dollar, in spite of the killing of the coal industry, in spite of global warming…I mean climate change, in spite of a huge number of new lows and hardly any new highs, in spite of everything negative anyone could think of, the only thing the major indices have done is remain range-bound. Range-bound is not a bad thing as long as the lower end of the range holds. The fact that the major indices refuse to break those levels is important.

This is potentially good news because if you want to take the positive side, we can go back to one of our important mantras. “If they can’t send em down under the worst of conditions and under the worst of news, it has a good chance of going higher.” It is also good news that even though the market leadership is very narrow, that leadership is strong. It is good news that there remains a slew of growth leadership. It is good news that in spite of Apple, the Nasdaq and NDX remain strong. It is good news that Financials continue to have decent relative strength. And of course, it is good news that the world is still printing trillions each year, has 0% rates everywhere and in fact, negative rates in many places. At this juncture, we will now be watching to see If major indices can break to the upside and out of this range…but for now, we remain range-bound.
So there! And the Mets are in first.