Is it possible that the Nasd could make three substantially positive days in a row?? Assuming an upward gap tomorrow a.m., could we possiply hold on to the gains? Amid all these positive consumer spending and earning numbers, I'm starting to have a somewhat strange feeling, reminiscent of bullishness. Either that, ...or I may have picked up some flu bug down in FLA this weekend-I've made a doctor's appointment to see if I'm crazy or I'm getting the flu.
For what it's worth: on the S&P it appears that the intermediate-term downtrend has finally ended today. This of course doesn't mean that an intermediate-term uptrend has ensued (yet) just that intermediate-term we appear to be in a trading range according to my anaylsis. Holding above 1091 tomorrow and closing above the high (essentially 1100) might convince me that we are now in an intermediate-term uptrend. Closing below 1091 would tell me we are in a trading range.
These moves are definitely substantial. The only problem I have with they are they are primarily pre market futures driven with most of the "substantial " price action happening in a thinly traded pre market. You have to figure that most of the stocks going up 2 points today were there on a few percent of the daily trade. Was today last wed.?