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Subject:  Control Panel: Only a spring shower? Date:  2/24/2013  1:00 PM
Author:  WendyBG Number:  416600 of 499525

I would like to thank everyone who responded to my post of a few days ago, "Nor'easter moving in," especially brucedoe, who posted details supporting the case for stability and a continued bull market.

On Friday, the market seemed to catch its breath after the topping pattern and buyers swooped in.

Although the Fear & Greed index is still in "Extreme Greed" (76), it is lower than it has been for the past month or so. The "Mungofitch lagged MA" has dropped slightly but is still way above the MA line and still very bullish.

All measures of stock market bullishness cooled off slightly last week, but are still well in the bullish range. Volatility is up very slightly.

Those who thought that the pause last week and worries over the government sequester are "a tempest in a teapot" may well be right. The Nor'easter may just be a spring shower. I think that the next couple of weeks (especially Monday) will establish a trend that will affect the spring 2012 market. The mungofitch 99-day rule is bullish, and it is months away from another potential sell signal.

Nothing like leaving things to the last minute, but "By the end of this week, federal agencies will notify governors, private contractors, grant recipients and other stakeholders of the dol