Today was a good bullish day. The S&P 500 Index closed @ 1330. Tomorrow should be an up day as well. A correction should follow the next wave up. For those who are interested in the technicals, the market has formed a strong bull flag pattern since February 18. The line in the sand is 1333 on the S&P futures. I fully expect this line to be crossed by tomorrow morning. In this event, the market should gap up and power higher.
Its all good right now. I must confess that, as an investor and trader, I am more intrigued by market conditions where you can catch the low as we did on March 1. There is not as much intellectual challenge for me when we are in quiet bull conditions, although these are the best times for the making of money.
Anyway, to keep my mind challenged in these easy money times, I will think about how we can beat the S&P 500 Index by year's end. The trick will be to anticipate and play the notable bottom in May. I will offer more thoughts on this in a later posting.
Good evening!
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