We had a very nice open to the week on all indexes but I’m still not convinced. If you look at the 10 minute chart to the left you we see that we peeked out of the consolidation area that was recently setup. The green trend line is also well intact. But I still believe we need a close $1345 to validate this return to an uptrend. I not convinced that this is not a Bear Flag which will mean another turn lower soon.
Also click HERE and you will see that we are still below 65% of stocks above the 150 day ma.
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