1. Stocks pointing up
Sometimes it’s best not to overthink things. Given that, the market broke its sideways movement this past Wednesday. That tells me the new direction is UP. End of story. For now…
2. Oil stocks up, too
3. Keep an eye on Cisco
Quite frankly, the chart of Cisco (CSCO) is a mess, and I’d steer clear. However, if it can mount some momentum and move up and above that downtrend line, I’d be a buyer.
Back next week to see if I’ve been mistakenly lured to the bull side.
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