SmarTrend Performance Statistics for Dec. 14
The total number of Uptrends, as a percentage of all trend ticked higher to 62.6%, up from 62.0% a week ago. However, the number of Uptrends that are in-the-money moved slightly lower while the number of profitable Downtrends moved higher. This type of activity is consistent with the market's somewhat choppy trade last week as investors become increasingly selective allowing lagging stocks to trend lower toward support levels before purchase. However, the increase in the total number of Uptrends is mildly bullish allowing for a potential rally in the overall market into the end of the year - consistent with our assessment noted in our Morning Call newsletter.
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