Looks like a breakout higher...

My added comment from the last post called for a brief rally. Instead it has been a very strong breakout higher as the major indexes are making new 52 weeks highs. I would had expected the major indexes to pulled back more to retest their 50 days moving averages but hasn't yet. The European and Asian stock markets did do that last week. But the U.S. stock market has outperformed and can on rare occasions will just pull back close to but not touch their 50 DMAs. Still, even though the stock market could continue higher I would be cautious of possible swift pull back to the 50 DMAs.