Filed under: Major movement, Newsletters, Technical Analysis, S and P 500, DJIA

“This rally has further to go,” says trading expert Mark Lebivot. In VR Trader, which analyzes volume reversal patterns, he notes, “It is finally starting to feel like the bulls are serious.”

Leibovit, who is consistently ranked among the top newsletter advisors according to Timer Digest, explains, “Recent buying was broad based as volume increased breadth was strong. Investor sentiment as measured by the AAII poll Wednesday evening January 23 was at 59.02 bearish, a very extreme number.

“Since the poll began in 1987 the bearish percentage only exceeded 55% three previous times. Each time was near significant market lows. The VIX also was at high levels seen at correction lows in stock prices!

“The financial media is pointing out fairly frequently that the market is off to its worst start since 1991. They make it sound like that has ominous implications. That bad start in 1991 actually presented an exceptional buying opportunity.

Continue reading Top trader issues ‘buy’

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