By Steve Blumenthal, CIO, CMG Capital Management Group
Big Mo and the 13/34-Week EMA remain in cyclical bull market trends. Sentiment is extremely pessimistic (which is also bullish). The Zweig Bond Model continues to signal long-term bond exposure and high yield is back in a buy signal.
Most of the sentiment data I look at each week points to a nice rally in the market. Trend evidence remains bullish as measured by my two favorite trend indicators so the upside continues to hold the benefit of doubt.