Suddenly, without warning, the Bulls are back!
Yesterday the market sprinted through an important resistance level and today…it didn’t pull back.
(Not yet, at least).
The momentum has kept on rolling.
Here’s SPY:
We’re back above the 200 simple moving average and it’s looking good.
In fact, it’s looking downright greedy!
A month ago the world was ending. Now the Bulls are ready to go.
And who else is ready to go?
Discover Financial Services (DFS).
Here’s the chart:
It’s also now above the 30-week SMA and is surging toward a breakout level.
A move above $205.76 could lead to a big run.
We’ll keep an eye on it.
Happy trading,
Scott
