If this market’s been anything, it’s been consistent, as it keeps moving from support to resistance and back again.
Right now, it’s near the resistance formed since late 2014, but the bulls can’t declare victory until the index makes a new high. In other words, we’re on hold until then.
My wife and I took a few days to visit Disneyworld this past week and it was CROWDED. Hotels, restaurants, and attractions were all jammed. Does it mean Walt Disney’s (NYSE:DIS) stock is doing well? The chart below says “yes” although I’d wait for a small pullback to buy.
I’ve been monitoring oil stocks the past few weeks, hoping for some sign of strength to start buying. Exxon Mobile (NYSE:XOM) keeps getting close…but it isn’t there yet. Be patient and wait for the breakout.
Back next week with my Mardi Gras hat on!