The bull market continues.

Yesterday and today were important for technical traders. Bulls win and I don't mean Chicago Bulls. We tested and held the 50 day m.a. We also tested and held the trend channel on a daily cash chart. This area was very important for the bull market to continue. Today in my morning brief I told my subscribers that the bulls are still in control of this trade. This means that we continue to hold key areas of support and the market continues to reward the longs when they buy these key technical areas. The question that everyone asks me is how long will this continue? I say the same thing to everyone that asks this question "it will continue until it doesn't." Right now the market continues to hold areas of support so continue with the trend, don't fade it. I know that sounds vague and disappointing to most people but that is the truth. This is why we need technical analysis to help us in our trading. When the market continues to reward you for what is working then why do people always want to fade it and see a change of direction. What I have learned over the years is not to make bold predictions but to allow things to happen until they prove you otherwise. Always trade with a free mind and execute according to what is working in the current environment. Let the market dictate your trades.  To answer the question about when the bull market end; when the market fails to hold key support levels and there is high volume selling below those key support levels, then you will know that sentiment has turned bearish.


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