Hello All!

Powell is still selling gradual rate hikes and sees things as fine, just fine, at the moment.  A bottled up for most of the week market has decided to party a little early this weekend as a result and oh, by the way, made a new All-Time-High (SPX).  As we discussed in our webinar, the NDX resolved itself to the upside and has thus left that triangle behind at this point in time.

Bullish mention CMCSA FINALLY looks more robust than growing grass and has FINALLY moved up nicely.  Hopefully it will continue to do so.

Another bullish mention from this week, LITE, has popped above our first target level but it’s not doing much more than that with about 2 hours remaining until the close.

Bullish ideas, AA and RDN, have yet to trigger due to the markets lack of movement and theirs as well.  They may still, but, the payoff won’t likely come until next week and it may be worth waiting on them until then.  That may be a tough call if they trigger late today.

The financials are relatively lackluster today and thus bullish mentions CFG and ZION are twiddling their respective thumbs as well.

We found DWDP in our work today and it may be on the verge of being in the bull camp soon.  IBM could join it there as well.  We wanted to provide a heads up on those 2 names.  We have alerts set so that if they just do a little more work on the bull side, we’ll be ready to officially add them as mentions at least.

For the second week in a row we could barely find a bear name worth focusing on and for the second week in a row it appears as though the bulls will win the battle after not dropping below our support lines.  They took the short-term overboughtness out of the markets as we noted they may, and now we wait to see if a breakout is imminent.

Often, when it’s much easier to find bulls than bears, that tells you something.

Thanks!

Wayne