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Bullish Signals Generated

Posted on April 13, 2009 by Adam

This market has me pretty excited. While I’m not convinced we’re out of the woods just yet, it looks as if trading conditions are beginning to ease.

Trading has been pretty easy for the last few weeks now, and I don’t think that’s about to end any time soon.

Last week, the NYSE Bullish Percent went bull confirmed, which is the most bullish of all medium-term signals. The S&P 500 broke above its long-term bearish trendline as well. As an added bonus, the VIX broke down last week below an important level, signalling that fear is leaving the market.

I think this should be an interesting trading week. Me, I’m looking to buy any pullbacks in equities.

Happy Trading!