Dear Liberated Stock Trader,

well it seems the market and particularly the SP-500 does not want to break down through the neckline of the Head & Shoulders pattern is was forming. So what are we left with. We would now like to see the index break through the 956 mark (only 14 points to go). This would essentially take the index to a 6 month high from the high formed in January. But we would like to see it break through on heavy volume so we have a reassurance that the break of the resistance line is solid and meaningful.

Maybe this will happen today or early next week. If the solid earnings reports continue to flow we could be on the edge of the confirmation of a Primary Bull Market.

What is bullish is the index has risen above its 10 day, 20 day and 50 day moving average. On the 15th July the index also raised its head above the 200 day Moving average the so called Golden Cross. What will happen only the “Market” will tell us.

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