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U.S. Markets Break Above Resistance

The Bulls have grounds for confidence. With markets up nearly 7% already in 2012, thereremains plenty of skepticism from folks like me. That skepticism may be the necessary fuel for a sustained move higher. The major U.S. indexes broke above resistance last week. The big day Friday pushed the S&P index well into the clear.

The Nasdaq also pushed above trendline resistance.

Financials (XLF as my proxy) also broke above resistance.

All of this bodes well for Bulls, and is sufficient evidence for me to be on the prowl for attractive additional long positions - including possible exposure to Financials.