Bullish Moves
Yesterday, the market broke out of its consolidation range that we have been discussing over the past several weeks. Such is undeniably bullish and sets the market up for a test of “all-time” highs.
However, while we did get a bit of “exuberance” yesterday, there was still considerable weakness beneath the overall market. As noted this weekend, the month of July has continued to perform as expected and has provided the seasonal lift to stocks.
“In the short-term, the bulls remain in charge currently, and as such, we must be mindful of those trends. Also, the month of July tends to be one of the better performing months of the year.”
