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The Chartman

Time to Buy the Bull Market

The ChartmanFOXBusiness

The bears are growling louder with more than a few cries of “this can’t last.”  They may be right, but when I look at a chart of the S&P all I see is the average in a steady uptrend.  No parabolic move. No blowoff top.  No big runup.

Just a steady climb.  The kind that infuriates the bears.

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Of course, things could change overnight, but for now, best to be long.

I wanted to look at some stocks in the news, so I’ll kick things off with Groupon (NASDAQ:GRPN).  This stock had a nice break from its short term downtrend line, but I’ll like it better if it closes above that resistance.  Then it has clearer sailing.

Tesla (NASDAQ:TSLA) is also in the news, but unless you bought earlier this year, I think the recent fun falls into the “too far, too fast” category.  Definitely a stock I’d consider only if it had a significant pullback.

What do you think?

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