TREND TRADE: Long from open, 11/9.
SWING TRADE: Long from open, 12/27.
DAY/SCALP TRADE: Long, long…
PRICE TREND: Up 2 days.
Market breadth continues to climb, prices continue to rise, more and more stocks register individual buy signals…obviously, the move to the upside, triggered Friday, continued today…
It must be time again to state the market’s second clearest axiom -“the market will go up until it goes down.” (The clearest axiom, reputed to have been stated by J.P. Morgan himself is “the market will fluctuate.”)
Of the stocks on my nifty-fifty list, 20 gave individual buy signals today, bringing the total to stocks-on-buys to 38 up from 18 Friday. Too numerous to in total, the stocks include X, KRO, CECO, NUE, BAC, LECO, FORM and FAST.
More notable, all eight of the 3x-leveraged ETFs I follow are on buys — TQQQ, TNA, UPRO, XIV, FAS, BIB, ERX, SOXL.
Let’s call the featured chart below “After Consolidating SPY Tries To Resume Its Rally” because it likely will.
(right click on the chart for a larger view)