In my last post named The January Effect 2012 I discussed the mixed signals related to January 2012 and the advances the market had made in the most "bullish" January in 15 years. There are many indicators that this could be a Bull Market with more upside to come. Some of these indicators, but not limited to these, are:
- The NASDAQ is at an 11 year high. This could be due to the optimism in the labor market as unemployment rates dropped to 8.3% which is nearly a three year low. The gain in employment was the largest since April and it far outstripped the 150,000 predicted in a Reuters poll of economists.
- More than 450 stocks hit their 52 week highs including stocks like Apple, United Parcel Service and MasterCard.
- 74% of stocks across all sectors are above their 200 day moving average.
- Growth in the Service Sector is at it's highest level in a year.
It will be interesting to follow these trends as they advance through the remainder of 2012. Many say that due to the factors above as well as others, the Bull Market is going strong.
