CHARTIST HOTLINE
Thursday, April 12, 2018
Stocks finished higher buoyed by Trump’s toned down tweet that a military strike on Syria may not be imminent. The Dow +293 +1.2% led the way followed by the Nasdaq Composite +71.22 +1%. Advancing stocks led by 6 to 5 on the NYSE and 9 to 5 on the Nasdaq. The VIX closed at 18.54, its lowest level in 15 trading sessions.
Most of the widely followed indices are now comfortably above their 200 day lines and the S&P Midcaps and Russell 2000, are above their 50 day lines as well with the Value Line Geometric virtually on the line.
The high relative strength stocks gave a good account of themselves with 22 out of the 23 recommendations in the Traders Portfolio posting gains. All of the stocks in the Trader’s Portfolio are comfortably above their mental stops. They are all on the profit side of the ledger as well.
With our models in positive territory, our advice for both long term investors and traders is to continue to stay the course.
Our next regular hotline is scheduled for Tuesday, April 17th, 3:00 p.m., West Coast Time.
The next edition of The Chartist will be mailed on Friday, April 20th
