The Navigate the Stock Market (NTSM) system moved to "BUY" Tuesday so it seems the market may continue to move up in the near term.
General Electric is up 25% since the first of December. They are up 8% since their earnings came out on Friday. Earnings per share were up 33% from a year earlier. Wow! They are widely considered as a bellwether stock because they are such a diversified industrial company. Good news for the S&P 500.
Consumer confidence was higher than expected Tuesday; that’s more good news.
One area of concern: the %-Bulls Sentiment indicator in the NTSM system continues to move up and that is bearish in the longer term (perhaps not too far in the future). The 5-day %-bull value is 59%. If a downturn were to occur now, I’d expect a short correction rather than something nasty. We’ll see…
