Bullish Headlines In The Media But……..

Marketwatch.com is reporting: U.S. stocks rise; Dow at highest level since 2007.

U.S. stocks advanced Tuesday, propelling the Dow Jones Industrial Average to its highest close since late 2007, after a report indicated U.S. manufacturing expanded in April, offsetting concern about the economic recovery.

“It certainly suggests that things may not be rolling over as badly as one might have thought; the bears need to take that seriously,” Bruce McCain, chief investment strategist at Key Private Bank, said of the manufacturing gauge from the Institute for Supply Management.

While the Dow Jones Industrials is breaking out the Dow Jones Transportation Average is not confirming yet.

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Will this even matter to the bulls?

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  1. Have you seen ‘Lloyd’s Wall of Worry’ on Minyanville? On an up day, a ‘block’ was added to the wall – unemployment (reports Fri). At 27 blocks they rate the wall as uncomfortably high. Keeps things in perspective when thing seem too good, imo

  2. Thanks for the link just had a chance to check it out. Interesting article. We shall see as they say.

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