It Is Easy to Be Bullish on This Market
- Posted by Greg Harmon
- on September 11th, 2012
“Life is really simple, but we insist on making it complicated.” -Confucius
How true this quote is, and very applicable to the current market environment. Just look at the long term charts of the major equity indexes.
SPDR DJ Industrial Average ETF Trust, $DIA
The SPDR DJ Industrial Average ETF Trust, $DIA, continues to move higher over the Median Line of the bullish Andrew’s Pitchfork. The Relative Strength Index (RSI) is bullish and the Moving Average Convergence Divergence indicator (MACD) is positive. But all you need to know is that the trend higher off of the double bottom in March 2009 is continuing.
S&P 500 SPDR’s, $SPY
The S&P 500 SPDR’s, $SPY, has bullish indicators and is moving along the Median Line higher. It is also over the Hagopian Trigger. But keeping it simple, higher highs and higher lows. Trend higher.
Russell 2000 iShares, $IWM
The Russell 2000 iShares, $IWM, has higher highs, higher lows, ditto.
Powershares QQQ Trust, $QQQ
The Powershares QQQ Trust, $QQQ, is the same. Keep it simple.
There you go, less than 200 words. Buy this market.
HT to @arianahuff for sharing the quote from Confucius today.
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The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.blog comments powered by Disqus
Gregory W. Harmon CMT, CFA, has traded in the Securities markets since 1986. He has held senior positions including Head of Global Trading, Head of Product Development, Head of Strategy and Director of Equity. (More)
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