18Apr3:47 pmEST
Nice 'n' Easy Would Do it This Time
We are winding down a generally slower-paced trading session today than what we have seen in recent weeks. And, yet, if bulls can help to base the S&P 500 Index sideways for a few days above 2,700, for example, it may very well set up a further advance into late-April.
Energy and energy-related plays, including solar, shined today. I still like the look action in some industrials ancillary to the energy patch, namely FLR FLS. But commodities in general (see: Silver and precious miners, also copper) are mostly showing life and will certainly continue to be part of our analysis going forward in terms of scouting actionable ideas.
For the rest of this week, though, nice and easy should do it for bulls are a strong couple of sessions. The main scenario bulls must continue to fight off would be an aggressive, high sell volume rollover in the broad market with current long setups falling apart.