Today has been particularly good for the bulls. Let's review.
The market closed decisively above the 200 day MA.
XLE is up a long way from earlier this month, not quite at the 200 day MA yet.
Semis are the most optimistic with a break above the 50 day MA!
Crude has broken through the 200 day MA and looks poised to take a run at the 50 day MA.
And it looks like nearly 50% of you are bullish out their in S&P land.
For all you bears, fret not.
I am still with you in the bear camp as many corporate and sovereign debt related issues need to be resolved before I become convinced that this is a bull market.
XLE is up a long way from earlier this month, not quite at the 200 day MA yet.
Semis are the most optimistic with a break above the 50 day MA!
Crude has broken through the 200 day MA and looks poised to take a run at the 50 day MA.
And it looks like nearly 50% of you are bullish out their in S&P land.
For all you bears, fret not.
I am still with you in the bear camp as many corporate and sovereign debt related issues need to be resolved before I become convinced that this is a bull market.
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