Today the Russell 2000 is back above its 50 MA, joining the Nasdaq. The S+P is nearly there, and the DJIA needs another 50 points or so.
The 50 MA is particularly important right now since it also happens to correspond with the Nov/Dec lows, which is key resistance. Once thru that obstacle the bullish side looks even better, and the next target to shoot for will be the 200 MA.
So the charts look promising, though not out of the woods yet. Some wildcards include continued progress (or setbacks) in the China trade war saga, resolving the current US govt shutdown, and the endless political soap opera for Trump, which could be worsening with the Dems now in control of the House.
The Mueller investigation has to wrap up eventually, but will the Dems just replace it with additional investigations running all the way to the 2020 election? Probably, though whether they go the full impeachment route is questionable. Either way, political turmoil looks like the new normal for the foreseeable future.
