The eleven year old bull market continues uninterrupted (save for a few weeks late last year). Here we see the Dow Jones 65 Composite has pushed above levels which, until now, represented resistance. At this point, the market is just one China trade deal away from lifetime highs.
The breakout with the NASDAQ has been somewhat choppier, but it’s roughly in the same situation.
The only area where the bears haven’t been completely obliterated is the small caps. You can see here how we’re aping the same pattern we saw last autumn – – a series of lower highs – – which, even with today’s strength, hasn’t yet been busted.