Friday, February 27, 2015 Weekly Market Recap. Live charts for this update are located here.
Major indices hit all-time highs yet again this week, but pulled back a bit by Friday to relieve the overbought conditions. I don’t think this upswing is done yet since no sell signal was generated by our trading system, although we did take some profits.
Watch this video on YouTube here.
Gold miners market breadth also improved. Especially the bullish percent index ($BPGDM), when it held at 40%, was my first tell that there is underlying strength in gold miners (Newmont Mining turned long-term bullish recently).
Best Regards and have another great trading week!
Alexander Berger (www.MasterChartsTrading.com)
Disclaimer, we have:
Open positions: SPY (took profits)
New position: TLT, SCO
Closed position: DUST