The S&P 500 cleared 2100 today as stocks continued to push higher. Today’s ADP was much improved over last month’s reading giving hope to an improved Jobs Report tomorrow. Crude oil reversed its losses after the OPEC oil ministers ended their meeting without an accord with regards to oil output. We continue to see very promising charts. We will continue to hunt down the best this market has to offer. Do not miss out!
This week’s AAII sentiment reading showed a big jump in Bulls, but no where near extreme levels. Bulls ended the week at 30%. Bears slipped to 29%. Neutral respondents continue to dominate the AAII survey, but at least Bulls woke up. They have missed a decent rally and proves why simply following the trend is the best course of action. Ignore the noise and stay disciplined.
Stick with the trend and enjoy the upcoming weekend!
