We saw a rare rest to end last week, but the week was still a positive one due to the strength from Monday & Tuesday. Turns out these days, a flat day almost is a down day!It’s been a relentless run, no doubt, and it still isn’t over. We just made new 52-week highs on Thursday, and have only pulled back from those levels slightly. The uptrend from the March ’09 low is still intact, as is the shorter-term uptrend from the February lows.
Bears are getting blitzed on multiple timeframes, and the bulls are growing more content it seems by the day. Should make for a pretty good battle at some point, but the wait continues.
Before we move on, I want to let you know I’ll be doing a webinar on Tuesday night, and I hope you can join me for it! It’s free, will run 30 minutes (+ 15min Q&A), and I’ll be working through setups of individual stocks of interest. So bring a scratch pad and jot down some stocks to add to your watch list. To attend, you must register (even if you only want the recorded version and can’t attend live), so here’s the link to get all set up [1] – see ya there!
As we head into a brand new week of trading, let’s examine some important levels in the indexes to keep an eye on in the days ahead. That will have the greatest influence on how individual stocks are going to move, so it’s where the trading week begins.
This clip was also posted over on the Trading Videos [2] site (as always), and perhaps you’ve seen it there – but in case you didn’t, I wanted to put it here on the blog for you.
Let me highly suggest clicking the “HD” on the video player and then going full-screen for best quality.
Thanks for stopping by and I’ll see you here soon with more.
Until then… Trade Like a Bandit!
Jeff White
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