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Short and long term trends remain up.   Surprised by Monday’s strength, but remain long.

A friend (thanks, Beth) alerted me to this possible cup and handle formation in EMN.   Check out this weekly chart.   A close above $55 on high volume would be a good sign of a break-out.

I may not be able to post again until next Monday morning. I am expecting weakness toward the end of the week and into the pre-earnings lull the first two weeks of April…….

Gold may have bounced down off of resistance on Tuesday.   Check out this weekly chart, which shows that GLD cloud not get above its declining 30 week average (red line). Click on chart to enlarge.

Well, the mutual fund window dressing time is upon us.   The strongest stocks rise into the end of the quarter.   The buying will probably last through Thursday.   Then we should look out for weakness until earnings are released. Since the GMI gave its buy signal on 12/23, the QQQ has advanced +19% and the SPY +12%.   The leveraged ETF, QLD, has risen +47% and TYH is up +80%.