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***** Not surprising that the breakout occurred once the test was met. There is enthusiasm and a bit of fear mixed in with the action which drives these markets higher. The surprising reaction to the negative and positive earnings and forecasts is another additive to the upside.
It's been the experience of the past couple of years that the negative news is being shrugged off, but what is now happening is that the obvious negative news is being ignored almost entirely. It's as if the public and the traders are tossing aside caution because it has not been the recent experience that the markets have reacted violently to anything negative. Yet, if we examine the trend patterns on the monthly since 2009 and we'll note several major drops, so in the realm of possibilities it still exists that what goes up must come down. Eventually.
Happy Trading, Living and Dancing
Anni
The Daily Pick - After Market Update $DJIA
©DayTrading with Anni 2007 - 2013 All Rights Reserved
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