NKE closes above 53.50 = possible return to bull market?
I will admit one thing.....when NKE managed to close today above the midpoint in its seemingly solid technical resistance point, then that is a bullish technical development that does raise the possibility that NKE remains in a bull market.
I am a technical trader, I look almost entirely at TECHNICAL stock movements, with very little concern about the fundamental factors.........and today's NKE action calls into question the bearish evaluations. I stated I would cease posting here if the TECHNICALS were to prove me wrong, and so I will.
That said, I believe NKE began the year very weakly and bearishly so whether it resumes its bull in full force is probably dependent upon whether a surging DOW can lift it further, given that on the first day of the year, it did ignore a strongly rising DOW.