Bulls Take Firm Control

Yesterday's strong move higher was a clear accumulation day and should set up a foundation for a move higher as we start out the 2006 trading year. We wouldn't be surprised of some of yesterday's move is faded today as pros shake the tree a bit more in an attempt to weed out the momentum bulls. Yesterday's move is reminiscent of October 19 where the bulls clearly marked their territory. Keep in mind that the lows were tested a few days later and panicked momentum players were shaken out just before the strong November move. Beware as this could happen again. Have confidence in the fact that bulls have once again marked their territory.