I hope some of you took advantage of our call yesterday to buy the dip and made a little money today. I will say it again, this market has positive TradeWinds at its back, and rising, putting us solidly in a buy the dips mode. Watch our Moderate and Fast momentum indicators to tell you when the dip is coming and ending. When you are ready to buy go to our Top 25 long list and buy ETFs or stocks that are new to the list and have a positive (green) or neutral (white) rating. Do your own research to pick the ones that look best for you from that group. Pretty simple.
This rally should last for several days, although don't be surprised to see a little pullback from the big move today, even with Big Blue, IBM reporting nice earnings after hours. This market will now take another shot at taking out it next major resistance markers. For the SPY thats around 139, closed at 136.85; for DIA its around 127.5, closed at 126.64; for QQQQ its around 46, closed today at 45.37. Remember that resistance really comes in a range rather than a fixed number. We need to a move through these numbers and then a hold above before you can say its broken. If its does do that, these indexes could then be in for some major sailing with strong TradeWinds. The way things are setting up, I think it will happen. Stay tuned.
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