Market Look

Another good day. More set-ups…new highs expanding…and volume picked up. S&P also now above the 50 day. Now just back into the range and a little overbought…would love to see a few days settling in. Will set things up very nicely. Also, very important SEMIS and FINANCIALS coming alive quickly. Market will not go up…

Futures up decently. Good day yesterday even though indices were flat. We found a few growth names into new high ground and like how the SOX finished. On top of that, the weaker BIG FINANCIALS seem to be repairing. We continue to believe the onus is now on the bears to show up with their…

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Except for not thrilling volume. no complaints here as market tries to improve off of its latest hold of longer-term support. We remain of the thought support will not break any time soon but don’t blink. A couple bad days could change that. Futures down just a wee bit and off the lows. Always find…

We repeat from Thursday’s action: Thursday was another classic reversal but not just any reversal. It happened again at the VITAL LONGER TERM SUPPORT AND 200 DAY MOVING AVERAGE.  Reversals like that usually lead to upside testing. We add from Friday’s action: Quiet morning action led to buyers finally showing up and short sellers covering….