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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: MythMan who wrote (366995)4/29/2008 11:58:51 AM
From: Giordano Bruno  Read Replies (1) of 436258
 
Consider the following recent bullish developments:
-- On April 1, each benchmark broke decisively atop its 50-day moving average, and has sustained the break higher for a month. (See the April 2 review for detail.)
-- The slope of each benchmark's 50-day moving average has since turned higher, consistent with a new uptrend.
-- Each benchmark touched three-month highs last week driven by its strongest volume since April 1.
-- Each benchmark's relative strength index has touched its best levels since October, when the Dow and the S&P were hitting all-time highs.
-- On April 18, the Dow cleared major resistance at 12,750, and nearly two weeks later, it continues to press new highs.
Collectively, the points above are distinctly bullish.

marketwatch.com
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