All systems green

If you are a swing trader, yesterday's action was quite impressive with a second double top (13,150) breakout at 13,200. The short term trend is ever more positive and a summer rally appears to have started. This means that you must ignore volume during the summer doldrums...!


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Keep in mind that we now are fighting a wide resistance zone with the 200 days moving average at 13,324.03, and MA50 days just above at 13,453.26. A break to 13,250 would provide a channel signal of +3. I suggest managing risk tightly and any reversal into a column of "O" should be acted upon immediately. For now, I am treating this as a bounce but I want to be long.

Pierre Brodeur