Brogan Group Equity Research has turned bullish on US equity markets for the first time in eight months.
Citing yesterday’s positive reaction to negative news from Google and Microsoft, Terence Brogan, BGRE’s Co-Head Market Technician, says, “There is an old wall street saying: “The market is bottoming when the market does not go down on bad news.””
Brogan’s models are now generating relative performance and money flow buy signals on the cyclical side of the market, especially on semiconductors but also on retail and high beta assets.
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