Stock Bears Have Made Little Headway Thus Far [SPDR S&P 500 ETF Trust] - Seeking Alpha

Stock Bears Have Made Little Headway Thus Far [SPDR S&P 500 ETF Trust] - Seeking Alpha



Chris Ciovacco has written another excellent article about whether we should be in or out of the stock market.  I have both bullish and bearish positions just like Chris.  The author makes it plain, though, that the trend is presently bullish in spite of the general indexes not making new highs.  His exponential  moving average chart is great in presenting the bull case, and his XLP, staples, chart compared to the S&P 500 also says the same thing.  The biggest bear point that I can think of right now is the negative economic reading from the Philly Fed recently.  Usually, the nationwide ISM economic report follows whatever the Philly Fed does, and this means we are in for some more negative news probably in the next ten days.  So, the smart strategy is to hold both bull and bear positions and take profits when you have them.