On Feb. 18, I brought to investors’ attention a developing bullish pattern of S&P 500 Index represented by SPDR S&P 500 ETF Trust SPY, staging gains of 1% plus three days in a row. The previous time it happened was in 2011, and a rally ensued. On Feb. 19 when the market was pulling back, as well as gloom and doom had taken hold, I wrote, “Stocks are pulling back. After the strong four day rally, this pull back is natural and does not foreshadow anything about the future.”
As shown on the chart, a bullish ‘W’ pattern is forming now.… Please click here or the title below to read more.
(The Weekly Digest reproduces the morning capsules made available every morning before the market open in the Real Time Feeds to the paying subscribers. )
This is what you need to know today.
We have been sharing with you that the hard data shows the U. S. economy is performing well and now there is another positive data point.
GDP came at 1.0% vs. 0.4% consensus.
On February 18, 2016, we brought to subscribers’ attention a developing bullish pattern of S&P 500 Index represented by ETF SPY staging gains of 1% plus three days in a row.