Written by: Mike Simonato, Ontario Presenter: “My Three Friends”, Dec. 3, 2016, VectorVest International Online User Group (Click here to View: My Three Friends)
The Markets continue to reside in nosebleed territory. As I said last week Ride the Bull until he says no more, but do so cautiously. We could very well ride the bull into 2022, however, remember when it falls, it can fall hard thus the need to exercise caution at these levels.
DOW JONES: Broke above resistance today with a nice bullish candle
NASDAQ: Continues to rise nicely
S&P 500: Continues to rise nicely
MKT TIMING: 8 EMA is acting as support which is very bullish. BSR and RT rising but MTI Flattening out.
READ Views, Strategy, Climate Earnings indicator continues to rise but % Bullish Advisors fell.
PTSE: 6 EMA acting as support Very Bullish but entering a resistance zone
VENTURE: Broke above resistance 3 EMA acting as support Very Bullish
MKT TIMING: 8 EMA acting as support. MTI, BSR and RT rising.
READ VIEWS (Stan does it again), Strategy.