Markets behaved in bullish mode once again Wednesday as benchmarks overcame early and mid afternoon weakness only to bounce back and close near highs for the day. There may soon be a cavalry charge of the booming late 1990 day traders if these markets continue to act as benignly as they have been. Breakouts came again today, reaffirming this recent advance. Today EXP took out a 72.41 flat base trigger post earnings, and HMC took out a 3 week tight trigger of 41.13. Recent breakouts like GGOG DNKN. continue to act well post breakout, exactly what you want to see in that situation. Something interesting that caught my eye charting yesterday was the absence of other world indexes following our lead Tuesday. ETFs like EWC EWZ have been down two consecutive sessions counting today, while the Nasdaq and S&P 500 have done just the opposite. As the markets rejoice, and the familiar “I am going to Disney World” (DIS) phrase, if the performance of recent IPO SEAS continues, the saying may be changed to SeaWorld.
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