Yesterday was a follow-through day for the equity markets, climbing well over 2 on very strong volume.� The strength was widespread, touching all the major equity indices, as well as, the IBD 100 and IBD 85/85 indices.� The key moving forward will be the emergence of stock leadership that meets my criteria.� At this point, the lack of stocks is the stumbling block to a sustainable market advance.
For the time being the Trading Counsel will remain neutral.� If I get a notable jump in stocks meeting my criteria combined with more signs of general market accumulation I will turn positive on the market.
A couple of weeks ago I told my wife and friends that I would not shave until the market closed with a follow-through day (a thing we used to do in hockey during the playoffs).� I shaved this morning...what a relief.
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