Yesterday’s price action was very bullish, even though volume was not as high as I would have liked to see. If you look at this chart, the S&P 500 Index broke above its downtrending 50-day average for the first time since 12/27. Ditto the Nasdaq. This is a big technical improvement, and a step in the right direction.This morning’s consumer confidence report was awful, but that is to be expected with all of the talk about a bear market and recession. Nonetheless, it took the market lo[...]
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[Source: The Money Blogs]
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