Today’s big move higher broke through the 100d-MA and the
upper trend line while flipping a lot of signs over to the bulls. As of
mid-day, both the Short-term internals ensemble indicator and the Long-term ensemble
indicator gave buy signals. Could they be wrong? Yes, this could be a fake-out.
The Index still needs to break through its 50-dMA and reversals can happen
anytime. Still, the indicators are bullish.
One would think that the bad inflation numbers would
have spooked investors. That’s what I
think. What I see are indicators going bullish.
I’ll be moving back to fully invested, unless something
drastic happens in the next couple of hours.
