First, thanks to everyone for your condolences. For obvious reasons, last week was difficult. Your support made it that much easier.
Let's see what happened last week.
A.) The SPYs uptrend is still in place
B.) Prices are now above key resistance, making that resistance support.
C.) The EMAs are now in bullish pattern. The shorter EMAs are above longer EMAs, all the EMAs are moving higher and prices are above all the EMAs
D.) Momentum is increasing and
E.) Money is flowing into the stock.
The mid-caps are in a stronger technical position than the SPYs -- prices are further above key resistance. The mid-caps were the best performing market sector by size last week. All other technical indicators are in the same position as the SPYs.
The small-caps are in the same situation as well as are
The transports are confirming the rally.
Stocks are in a good position right now. I wouldn't be surprised to see them pull back this week, largely as a result of last week's strong run.
