Bullish technical analysts

New all time higs emerged across major indexes, including the Nyse, SP Mid and Small caps, the Russel 1000 and 2000, the DJIA and the Transports as well as the Dow utilities, with reaction highs in the SP 500 and the NASDAQ.
Technical indicators turned up, confirming the improvement.
Louise Yamada Technical Perspectives February 7, 2007.

Lowry’s statistics remains bullish.One of the best indicatons of weakness or growing weakness is the trend of new lows on the Nyse.
But we see that new lows have run below 40 all during 2007, and more recently new lows have run below 20.
This suggests very little downside pressure on the market ; in other words, few stocks are breaking down below important support.
And that is not bearish.
Richard Russel dow theory letters February 6, 2007.

In brief, virtually none of the classic warning signs tipically found in advance of major market top in the past are currently in evidence.
Our measurements of the forces of supply and demand have shown significant improvement during the past week, adding continuing confirmation to our August 30th intermediate trend buy signal.
During the past five trading days our buying power index has risen 27 poiunts to a new rally high, its highest level in more than 8 months, reflecting strong investor demand.
Lowry’s market trend analysis January 26 anf February 2, 2007.

The bottom line, we continue to buy weakness.There is not much risk here, and big potential if/when we get that final liberating optimism start to seep back in.
Don R Hays january 29, 2007.