Friday, February 20, 2015 Weekly Market Recap. Watch this video on YouTube
Major indices hit all-time closing highs on Friday and remain in an uptrend. Indices are getting somewhat overbought, but by no means weak. QQQ is leading with an almost 5% advance after our buy signal on January 22nd. Apple (AAPL) alone advanced over 15% from our buy signal on January 23rd.
Market breadth remains bullish and I see no negative divergences within the Advance-Decline lines. The breadth momentum is still bullish and expanding. It is getting a bit frothy, but I am yet to see any significant selling pressure in the major indices. The charts are located here
Then today the price jumped over 5%. $NATGAS may have also broken out of the triangle formation, as seen on the chart below.
Best Regards and have another great trading week!
Alexander Berger (www.MasterChartsTrading.com)
Disclaimer, we have:
Open positions: SPY, DUST