The S&P 500 followed through above 1810, signaling another primary advance. Troughs high above zero on 13-week Twiggs Money Flow indicate strong long-term buying pressure. Short corrections such as the recent retracement are normally followed by strong gains, but there is no reliable method calculating targets in an accelerating up-trend. The target of 1910* calculated by the conventional method may well underestimate the advance.
* Target calculation: 1810 + ( 1810 – 1710 ) = 1910
My favorite bellwether, transport stock Fedex, is surging ahead on the monthly chart, suggesting a strong recovery for the US economy in the year ahead.
CBOE Volatility Index (VIX) readings below 20 also suggest a bull market.
Thanks for your emails. I find them easily the most sensible free stuff around.
Merry Christmas
So this may be the time to sell.
MANY THANKS FOR THE NEWSLETTER AND WISHING YOU THE COMPLIMENTS OF THE SEASON!!
Merry Christmas Colin