Healthy Week On Wall St; Stocks Close Above Resistance!

It was a very constructive week on Wall Street as all the major averages traded above their respective two month downward trendlines and their respective 50 DMA lines. It was also encouraging to see the Dow Jones Industrial Average & and the tech-heavy Nasdaq composite close above their longer term downward sloping 200 DMA lines. There is no point in fighting the tape and the bulls deserve the bullish benefit of the doubt until this “breakout” is negated. Trade accordingly.