Here it is folks, what we've been waiting for. THE BULLISH SIGNAL! Inverse head and shoulders on the daily, upper channel breakout on all time frames, all screaming GO, GO, GO! The Bull has arrived here on the first day of 2012, and while the day is not done, the pace and momentum seem to be back in action this morning. I would have preferred a smooth run thru the breakout point rather than the gap up, but gaps have been so prevelent lately it's no surprise. And if the gap is filled it's technically unlikely that it will break down thru support. It seems we are off to the races. And while I still want to see the VIX under 20, I'm somewhat satisfied that we are under 25. That is a good indication that some of this insane volatility has left the market.
Momentum - Up
Trends SHort, Medium and Long Term are all up!
Here's the Daily, 3 day and Weekly charts as of 11:32 am
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