Wednesday, March 17, 2010

The Bull Market Rages On!

The bull market is raging on as I predicted in my previous post.  From a technical standpoint, an indication of a continuation of an upward trend is that higher highs and higher lows are being made.  The previous high was made around March 18 at 1150 points on the S&P500.  We are now at 1160.  The previous low was made around February 7 at 1045 points, whereas the low prior to that was made on November 1 at 1029 points.  So, clearly, the "higher highs, higher lows" pattern is still continuing.  But let's be vigilant lest things turn south again.  However, there's not too much data that points in that direction.