Friday, June 6, 2014

Market Trend Model 100% Green

Eight weeks into the low volume rally and the Market Trend Model is 100% green for the first time in months.  Financial engineering and a negative interest rate policy by the European Central Bank was the catalyst to push the Russell 2000 into a solid uptrend.

The S&P 500 rose for the third week straight and on increasing volume.
The Nasdaq-100 rose for the fourth week and on increasing volume as well.

The broader Nasdaq Composite and Russell 2000 continue to lag their smaller counterparts.  However, both indices produced solid gains on increasing volume.

There's no telling when profit taking will occur.  For now, the trend is up...until it's not.