A relatively quite day on the street today with Small Cap stocks leading the way with gains as the Dow and S&P take a breather. Crude oil continues to struggle regaining its $40 handle despite the dollar struggling especially against the Euro. Volume ended mixed with Nasdaq barely eclipsing Wednesday’s rate. Overall, volume continues to remain below average despite the best turn around in a quarter since 1933. Tomorrow’s job figure will certainly add to the mystery of when the fed will hike rates again. Even with the negatives this uptrend continues to push forward.
This week the number of Bulls in the AAII survey fell below 30% to 27% where Bears ended at 25%. There should be a WTF category as Neutral respondents continue to be dominating the AAII survey. II Bulls are above 40 but sit in the low 40s. II Bears are in the mid-20s. You might imagine Bulls would be a bit more giddy. Hardly anyone believes this market rally and it has paid off well for us.
Enjoy the fireworks in the morning! Enjoy the weekend even more!
