By Lawrence G. McMillan, MarketWatch
AFP via Getty Images
The S&P 500 index /zigman2/quotes/210599714/realtime SPX -0.81% is making new all-time highs once again. It’s accompanied by all the other major stock-market indexes too – the Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA -0.46% , the NASDAQ-100 /zigman2/quotes/210598364/realtime NDX -1.68% /zigman2/quotes/208575548/composite QQQ -1.60% and the Russell 2000 /zigman2/quotes/210598147/delayed RUT -1.93% /zigman2/quotes/209961116/composite IWM -1.92% . These charts remain positive with upward momentum. Their moving averages and “modified Bollinger Bands” are moving higher. The S&P has not closed below its rising 20-day moving average since the beginning of November.
When the SPX chart is this strong, one needs to retain bullish positions and stay with the upward momentum.