If the market volatility of the last few months has discouraged you from doing research or investing in stocks, today is the day to give the market another look. With the major indices up 1.3% on big volume, today has many of the characteristics of a “Follow Though Day” – a day that signals the beginning of a new market uptrend. We’ve also broken through resistance at the highs that has turned us back twice before. Hopefully that implies that this time we may have more room to run.

 

Leading stocks are acting strong and new demand coming into the market seems to be negating much of the institutional selling we had seen over the last few weeks. So we should start to see some distribution days falling off the count soon. Remember that the biggest profits are made in the beginning of a new uptrend, so don’t hesitate. If you aren’t doing your research now, you may miss your chance.

 

Best Returns,

Scott O'Neil

President, MarketSmith Incorporated 

Follow Scott O'Neil at Twitter.com/WScottOneil