Afternoon folks! Nice week in the markets overall as the market had continuation of its key breakout from 2 weeks ago and finally broke the flag pattern it had been stuck in for 7 days on Thursday. Right now its obvious that the bulls are firmly in control as the news cycle and the price action have been very lopsided towards the bulls. This can change on a dot. We have seen this action before where the market runs for a bit and everything seems great and 3 days later the market is down 10% and everyone is bearish.
We cant get complacent either way. I'd welcome a market dip and some up and down crazy action that's when I'm at my best. This low volatility action favors mostly longs and swing traders as you can just hold stocks but you don't get the dips you need to really use my whole too bag of tricks to the long and shortside.
Russell 2000: +2.29%
Nasdaq Comp.: +1.84%
S&P 500: +0.87%
Dow: +0.51%
Hot sectors
uraninum (ura) 8.5%
homebuilders (xhb) 5.83%
OIL (uso) 3.16%
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