we just never know!
it looks tired and then trades right back to maintain the short-term up-trend. to make money we have to follow but only one step behind. for the next trading session things continue to hold for going long. the nasdaq bullish percent and the wilshire 5000 are good longs.
any bullish percent above that 50 line is telling us that the price action in most stocks is still making bullish patterns. and so goes the market.
i think the next challenge is at the 200 day MA, about 2% on the wilshire 5000. but look at the StochiRsi, as market nears this resistance we are trading with increasing relative strength. this is a sign that while we might predict that since mid March it's time for a pullback, traders in aggregate are still bidding this thing higher. for now, stay long and have fun trading!
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