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Our sentiment survey for this coming week inched just a bit more bullish than last and is on a hold (buy) status. Seems most traders and investors have got the Fed memo now that POMO will buoy that markets. And if that's not enough we'll launch QE3. And besides, Santa's coming and a big tax break is in the works. What can go wrong?

I have to admit, there has been several occasions these past few months where the charts didn't look too good and were ready to roll over into a decline, ...

The breakout

The S&P 500 started the week bumping up against the November high, and after testing that resistance level for a few days as the tax cut compromise discussions in Washington played out, we finally saw a breakout to new highs. This could be a good sign for the coming weeks.

For the TSP, it was another good week for the stock funds: The C-fund gained 1.32%, the S-fund was up 1.71%, and the I-fund added 0.37%, lagging after a 1-week bounce in the dollar. ...

Somehow after watching this week's action unfold I can't say I'm surprised that the S&P 500 closed on its high of the day. I started expecting that outcome several hours before the trading day ended. I suppose the old adage "The market can stay irrational longer than we can stay solvent" applies for the time being.

Here's the charts:



Not surprisingly, both NAMO and NYMO turned positive today and are flashing buys.

...

What aren't you being told?

It's that time of year again, where the "window dressing" begins, have you noticed the trading range over the last 4 days? The S&P 100 is leading while the Mid caps, Transports, NASDAQ, & S&P 600 trade flat. Can large caps lead?

Take care, I look forward to Monday's price action, perhaps then the true story ...

TSP Talk Sentiment Survey results for the week of 12/13/10 - 12/17/10

See latest survey results

Bull market rules are in affect, effective 9/27/10:

Our Sentiment Survey System remains on a Buy Signal and 100% S-fund for the week of 12/13/10 - 12/17/10. The bulls (58%) to bears (30%) ratio is 1.93 to 1, which is a neutral reading...

The legal stuff: This system is for educational purposes only! This is not advice or a recommendation. We do ...