Sorry for the late post this week. I got the blue screen of death (hard drive issues) earlier this past week which set me back a few days. Last week I posted a quarterly chart of the SPY which gave clear evidence of the strength of the long term up trend. This week I thought I would post a monthly chart of the SPY. As you can see this chart also points to a clear distinct up trend. It is analysis of the monthly chart that plays a very important role in confirming long term shifts in trend.
CONCLUSION
Nothing much to add to my commentary of the previous two weeks. The long term and intermediate term up trends remain very much intact. In addition, it is very typical for markets to rally just prior to a holiday. Have a great Thanksgiving.
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