Stocks At The Crossroads: Breakout Or Breakdown? | Seeking Alpha
Eric Parnell has written another outstanding article about the state of the stock market. He presented several charts which showed a bullish breakout such as the NYSE stocks above their 200 day lines, $NYA200R. The advance-decline line also supports rising stocks, $NYAD. In addition, Eric mentioned foreign currency hedge stocks which are also bullish, HEDJ and DXJ.
Moreover, bonds are going down. TMF, the triple long government bond ETF, has recently broken its former long-term trend to the downside. So, being long on stocks is the place to invest right now although I agree with Eric that we could have another downside reversal at any time. I like TQQQ for playing the Nasdaq upside, and I also plan to buy NXPI, a mobile payment chip stock.
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