And The Beat Goes On...

Markets had a good day today, as they continue their recent winning streak.  AA and CSX gave the markets something to rally over and it appears that INTC is contributing fuel for tomorrow since it's up 7% in after hours trading today.

Here's a quick look at some of my indicators that I update and maintain myself.  First up, the TLT Oscillator:

As you can see, the Oscillator score is positive (bullish) and the moving average just crossed into positive territory today (very bullish).  This indicator tells me that the intermediate trend is up for now..time to look for longs if you're not long already.  Of course this is subject to change as a couple of good down days could provide a negative score and drag the moving average back down to negative territory.  So I'm not saying that we should all pile on the longs and hold them right now, I'm just saying that this indicator (one that has been pretty reliable but subject to it's own set of limitations) says that the path of least resistance right now is up.

Another indicator to check on that I've posted about before is the Overbought/Oversold Indicator:

The Overbought/Oversold Indicator just crossed over the 4 mark into overbought today.  This means that I'll will be waiting for the market to back out of the overbought territory before entering any longs (assuming the trend is still bullish when we pull back).  I guess it's just a wait and see type of thing now.

TLT