The markets are opening slightly lower t…

The markets are opening slightly lower this morning and there’s little in the way of catalysts in the news today.  That said, we might not need a fundamental catalyst in addition to the strong earnings season we just made it through to pop this market.  Take a look at a three month DJIA chart:

You can see that the markets have been in a steady uptrend while we’ve been buying, but that in the last week or so since earnings season ended that we have had a hard time busting through to new highs.  In fact, doesn’t the last few weeks’ action look a lot like the action after last earnings season in late February when we also saw strong fundamental reports?

Mark Twain will tell us that history doesn’t repeat, but it rhymes, and while most traders spend the summer sunning themselves in the Hamptons, we just might be setting ourselves up for a surprisingly big summer.

I’ll likely do some steady buying in Google, Adtran and Nuance as my next purchases, but I’m also working on some new trades for June, so stay tuned!