Stock Market Going Higher

The S&P 500 pushed above a key trend line Friday suggesting it wants to go higher. Just go with it for now, even if it doesn't make sense given all the continuing bad news we are barraged with.

The market had been showing some resilience, even with the push lower over a week ago, it suddenly reversed higher last week without even touching the bottom trend line you see on the chart below.

One can never be sure how far this goes, but if we start seeing high quality growth stocks breaking out, it might be worth taking a chance on some and see where this market takes us. As always, let the price and volume action tell the story and don't argue with the direction.