Phil's Stock Market Blog

Here it is an hour later (8:50 AM PDT) and I had another "thought". Note that yesterday's action in the NASDAQ and DJIA constituted an attempted breakout to a high above a pivot point in a cup and handle-like base pattern. It experienced a strong bout of profit-taking (and probably plenty of loss-trimming too, for those who were underwater), producing a wave of Climax High signals.

But it will take more than that to kill the bull run, which so far has shown amazing breadth and power. I.e., the markets will be breaking out again soon.

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