Is Today the Day the Market Finds Direction?

Here’s a nice summary of the past week’s lack of direction by Josh Brown of Ritholz Wealth Management:

LINK

And here are some more charts that include today’s market action:

S&P500 Index (rallying above its 100 day moving avg.)
spx

NASDAQ Composite Index (heading for open skies above its 200 day moving avg.)
comp

iShares JP Morgan USD Emerging Markets Bond ETF (heading for open skies above its 200 day moving avg.)
emb

I am not a market technician, but it’s not about what you believe, it’s about what the other guys will believe. As such, these moves are more bullish, than not bullish.

Have a great weekend!

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