Saturday, December 6, 2014

Here Comes Santa Claus

The Market Trend Model ( continues to show a positive bias as a stronger than expected employment report buoyed markets on Friday.

The Nasdaq made no progress for the week, but this index showed supporting action as buyers stepped in at the 10-day moving average to keep this index in its uptrend.

At the end of the prior week The Russell 2000 appeared to hit a brick wall at the March 2014 highs. By the end of this week the Russell 2000 appeared to have worked off its weakness and looks to challenge this year's highs.

Also recovering from the prior week's weakness is the 10-year treasury note yield which re-claimed its 10-week moving average on Friday.

It could be that Santa Claus is on his merry way.