After the NYSE McClellan Oscillator flipped back positive, we went out of our cautious stance and this week rewarded the bulls with significant gains Tuesday and Thursday. Only the guilty plea of Michael Flynn could slow down momentum, and even that was only an hour Friday morning before the bulls stampeded right back. With the tax reform plan looking very likely now, the market is rejoicing. The Dow Jones Industrial Average is now at it’s longest monthly win streak (8 in a row!) in 22 years. That said there was a bit of a hiccup in the NASDAQ Wednesday as mega cap stocks took a hit – apparently they can’t go straight to the moon forever.
Is that a potentially bearish “double top” in the Apple (AAPL) chart? Naaah – that would be a negative thing, and negative things aren’t allowed in the Trump market.Continue reading