The Market Trend Model (http://bitly.com/M_Trend_Model) continues to show a positive bias as Janet Yellen and the Federal Reserve remain more patient than a bottle of Heinz 57 Ketchup on a cold snow day in February. In true government fashion, the Federal Reserve minutes show a committee of hand wringers having no clue as to what to do with interest rates (http://ow.ly/JhGxy).
Once again "Fed watchers" are left waiting in anticipation for something (anything) to signal a change in policy. Meanwhile, trend followers simply follow the price action of the market itself to see whether the market is moving up or down.
While some consolidation may be warranted and even healthy for the market in general, the stock market continues to move higher after its recent breakout to new 52-week highs. At the moment, as always, it is prudent to remain mindful and flexible as the market continues its ascent.