Stock Market is Trending upward
The market just crossed a major hurdle the 1300 level for the first time since August 1 2011 almost five months after that horrible Summer. The trend is not visible to most untrained eyes. Take a look here is this a channel? Was it visible earlier ? No. That is what happens when data is added to the charts patterns emerge and they take hold of the market direction. If we close above 1300 levels that market should go higher, because the bears are out of luck.
Whats amazing is all there indexes are clocking the same pace. Major leaders are up yet volumes are still not that heavy. The market is extremely overbought here and those conditions cannot be ignored , yet we keep moving higher. A pull back may come, when no one knows.
If you were scared of the entry, fear not you are now in bulls territory. Few good economic news in the US and some encouraging tongue talk from European leaders and we have a rally.