MLR - PMP 2/17/15

Published : February 17 2015 at 8:58 ET

Major averages rose on lower volume ahead of the 3-day weekend but managed to break through resistance. The S&P 500 closed at all time-highs and the NASDAQ Composite closed at multi-year highs. Other bullish signs include the price of oil which may have found at least a temporary low, bellwether AAPL closing at new all-time highs, and the NYSE advance-decline line turning positive. But the bearish backdrop remains intact as the euro's days are numbered, issues in Greece are ongoing, and the economic slowdown in China shows no signs of reversing as of yet. Indeed, the global recession remains intact but so does quantitative easing which has helped push markets into their 7th "bullish" year.

This information is provided by Virtue of Selfish Investing, LLC (VoSI) is issued solely for informational purposes and does not constitute an offer to sell or a solicitation of an offer to buy securities. Information contained herein is based on sources which we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of available data. VoSI reports are intended to alert VoSI members to technical developments in certain securities that may or may not be actionable, only, and are not intended as recommendations. Past performance is not a guarantee, nor is it necessarily indicative, of future results. Opinions expressed herein are statements of our judgment as of the publication date and are subject to change without notice. Entities including but not limited to VoSI, its members, officers, directors, employees, customers, agents, and affiliates may have a position, long or short, in the securities referred to herein, and/or other related securities, and may increase or decrease such position or take a contra position. Additional information is available upon written request. This publication is for clients of Virtue of Selfish Investing, LLC. Reproduction without written permission is strictly prohibited and will be prosecuted to the full extent of the law. ©2016 Virtue of Selfish Investing, LLC. All rights reserved.