Stephen Todd made a significant amount of money in the huge January rally, got out before this February crash, then got back in on Monday February 12th and after a 747 Dow point rally in two days is up nearly 8% for February too. Ranked #1 in 2017 by Timer's Digest with a 31.6% return in 2017 Steven gives his view on what he expects going forward in this letter - Robert Zurrer for Money Talks
For Monday Feb 26, 2018
Available Mon- Friday after 3:00 P.M. Pacific.
DOW + 399 on 948 net advances
NASDAQ COMP + 84 on 888 net advances
SHORT TERM TREND Bullish
INTERMEDIATE TERM Bullish
STOCKS: A heads up. Tomorrow, new Fed head Jerome Powell is testifying before Congress and there is always the specter of market moving comments.
When the market is up 747 points in two days, there is usually a cliche to accompany it. How about this? "In a bull market, surprises come on the upside".
There wasn't much specific news to account for it. For some, the earnings picture continues to be a factor. And indeed, a record 78% of firms have beaten fourth quarter revenue estimates.
GOLD: Gold was up $5. Not a lot of specifics to account for it, but it wasn't much of a move.
CHART: Five week RSI got very close to an oversold condition. Usually, when it gets this low, the rebound usually lasts much longer than the two weeks that this rebound has lasted. In my view, we are still owed more on the upside, but I wouldn't be surprised by some near term profit taking.
BOTTOM LINE: (Trading)