I had predicted a lazy bullish move into the final weeks and days of 2010 and that is what we got. We are poised to pull back and test the 20 SMA and prior resistance which has become new support. I feel that we will test and bounce and we will end the month of January in bullish fashion. There are a lot of reasons to feel bullish for 2011. We are in the 3rd year of the Presidential Cycle which is a seasonal tendancy that has performed at a high level. There is recent evidence of outflows from the bond market and back into the stock market and I feel that trend will continue so get ready to make some money on the top side of the market. Dust off your watchlist and get your Long Picks ready for action.”
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