I just wanted to post a quick note that the stock market is giving us a very bullish signal – so far today. First, yesterday’s low did not drop below a level of support that would be consistent with this bull market trend that started in March of last year. Second, today’s price history on the S&P 500 is creating what we call a “Spinning Top” candle formation. This is a very bullish turnaround formation. We saw a similar formation in both June and October of last year when the market bottomed at the support line as well. While one day does not make a (new) trend, I would not sell holdings today. Aggressive investors might be buyers if you have cash on the sideline. More prudent action would be to give the market a couple more days to discern its direction.
For more information feel free to give me a call – 937-434-1790, or drop me an email – bill@401advisor.com.
