Market Report 22 February 2015

At the time of my last main report, the Dow was at 17511 and it is now 18140. Here’s the 50pt chart:

When you look at it with a box size of 100pts, you get a much cleaner and clearer picture:

As I’ve said previously, we now have the clarity in all our major indices that has been so badly lacking for the last six months. The S&P500 provides another example of this, having risen from 2019 last month to 2110 confirming that the bull market is still intact:

Likewise the Nasdaq100, which is up from 4142 to 4443 in the last month. With hindsight we can now say that what we’ve had here recently was a congestion area:

As you would expect, the Russell2000 has also advanced, climbing from 1176 to 1231 which is also an ATH:

Remember my Golden Rule: one all-time high leads to another and another.

(c) Robert Newgrosh 2015

All rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without the prior permission in writing of the author. (So please do not forward it to anyone else)

Feb 22, 2015

Markets

Blog