The bulls followed our game plan and rallied through resistance to start the week with Tech pushing new 52-week highs. We mentioned at the beginning of the month the bulls could rally in September following a bearish August through the 9/11 anniversary of the terrorist attacks on our nation. We then expected a pullback as the charts were showing possible double tops forming and on Thursday, the bears made a little noise as the indexes did finish lower.
Of course, the bears needed a follow-through on Friday to confirm the pullback but the bullish developments during the week were too much to overcome. The bulls appear poised to touch the top of the trading ranges and set new highs but this week could go either way as there a still a few more major headlines the market must deal with. (read more…
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