To The Moon

Valiant bulls pushing on

The bulls did excellent on Wednesday as $DJIA(.DJI)$, $NASDAQ(.IXIC)$and $S&P 500(.SPX)$closed strongly up facing up to the bears where the bears must hold. 

After being pushed back from the bears' stronghold at the 4100-4300 levels the previous day, the bulls showed strength leaning on positive economic news and declining worries of recession to advance and challenge the mentioned levels again. 

It is a very encouraging effort nonetheless butas much as we want to see the markets chart higher highs, emotions must be kept in check and we know that the markets do not go up ina straight line. Hence during these times, it is important we have a chart to guide us so as not to get overexuberant and my previous gameplan still holds. 

I still believe the market is due a pullback. Andthe nature of that pullback will determine how we chart the market moving forward and decide if this is just a bear market rally in a biggerbear market or the beginning of the next bull cycle. 

Opportunities are aplenty though although caution is still to be exercised.

Stay safe 😊