Momentum Monday – March Madness in February?

As we end February, the S&P has closed higher nine weeks in a row. The number of times this has happened into a major market top in the past 40+ yrs is zero (h/t Urban).

Momentum Mondays are more fun when the momentum is really thick – like right now!

I will get right to the episode which covers a lot of ground and some fresh ideas – CLICK HERE. You do not need to watch, you can always just listen in the background and you will pick up the themes:

As we discuss at the end of this weeks episode, this bullish price action does not preclude interim weakness. In fact, because I do not have a bearish setup to share, it would be the perfect time for the market to smack back.

What chart are the bears excited about?

I like this one from Northman Trader in his post ‘Highway To The Danger Zone’:

Have a great week.

As a reminder, Marketsmith (by Investor’s Business Daily) is now a sponsor of the weekly show. All the charts you have been seeing in the videos and will continue to see are from Marketsmith. They are offering my readers a three week trial for $19.95. Click this link if you would like to try it out.