The Trend Is the Only Game in Town
There isn't much new that can be said about the action today. The action was similar to what we have seen so often lately. It was slow, but the buying was steady, and we end up with another strong finish. Breadth was better than 2 to 1 positive, and the only group that is notably weak is precious metals.
I'm not a fan of trying to time market turns by using contrary indicators, but it is hard not to worry a little when the action is this complacent and the bulls so unworried. The only real concern right now seems to be fear of being left out as we climb steadily higher every day. It is hard not to feel sorry for the bears who keep telling us that we are on the eve of destruction....122 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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