Saturday, October 22, 2011

Tom McClellan Sees Rising Stock Market 10/22/11

Bloomberg reported several days ago that Tom McClellan, edito of the McClellan Report, sees the stock market rising until February. McClellan states in the interview that "sustained pressure of money is trying to find its way into the market."

The ES futures on Friday made a new higher high since the high of August 4th. And, the S&P 500 index closed above its 100-day moving average. The futures have also been able to stay above its 10-day moving average since October 5th. An uptrending market?


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