Markets powered higher Friday on stellar volume in a clear character change. There was a good opportunity for bears to push a move to new lows, but the opposite occurred and big support showed up around the key moving averages. With net highs/lows continuing to be green, the number of stocks trading above their 200-day moving averages increasingly positive, and the S&P-500 net even for the past 6 months with it’s last low marked in October, it seems as though the worst of the bear market is behind us and we could be close to the first leg up in a new uptrend.
The Next Market Leaders - 1/22
The Next Market Leaders - 1/22
The Next Market Leaders - 1/22
Markets powered higher Friday on stellar volume in a clear character change. There was a good opportunity for bears to push a move to new lows, but the opposite occurred and big support showed up around the key moving averages. With net highs/lows continuing to be green, the number of stocks trading above their 200-day moving averages increasingly positive, and the S&P-500 net even for the past 6 months with it’s last low marked in October, it seems as though the worst of the bear market is behind us and we could be close to the first leg up in a new uptrend.