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Don't look now, but the Dow just hit a new intraday bull market high. As shown below, the start of November looks much like the start of October. Both times the Dow traded down to its 50-day moving average, held support, and then bounced nicely to make a new bull market high a week or so later. While the Dow has hit a new bull market high, the S&P 500 is still a few points away. Will it soon follow?
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Just read an article that individual investor bearishness is at numbers close to what it was in the early July bottom.
It may be an indication that this up leg is as strong as the one we had back in July.
Also, timing signals have indicated about a week ago that an uptrend was about to start. We'll see how much higher this will bring us.
Consider http://invetrics.com
Its daily DJIA index trading signal is up a respectable 68% for the year (as of November 1, 2009) and it is free of charge for individual investors.
Posted by: time123 | November 09, 2009 at 06:31 PM