We're barely half way into February, and already holding powerful net monthly gains of 93pts (4.7%) @ sp'2088. The monthly MACD cycle has negated the bearish cross of late January, and has now turned positive cycle.
What can be said? Market appears back in 100% 'everything is fine' mood, and we now have bullish engulfing candles on most of the indexes.
Without question.. if we close the month >sp'2088, it'll bode for continued upside across the spring.. if not the year.
For the equity bears... it would seem that the late January weakness was just another cruel tease.