In spite of a few ugly days here and there, market internal indicators remain very encouraging.

Money flows continue to indicate accumulation at very high levels. The more volatile sectors of the market are outperforming the more defensive ones. Many investors seem to be negative and positioned for a decline (this is generally a contrary indicator).

Although some days make it difficult to maintain perspective, the stock market is working through a significant number of issues; all during one of the more politically uncertain periods in decades.

It has interest rates, growth concerns, and international macro issues all pressing for investor attention. However, there is also good news; high employment, a strong consumer, and stimulating monetary and fiscal policies. Stay steady, my friends.

The Lonely Bull