NEW YORK (TheStreet) -- As the Federal Reserve money-printing machines continue to work overtime, the stock market continued to move higher in response in Thursday trading.
The DJIA closed higher by 14.84 points at 16921.46 and the S&P 500 closed up 2.50 at 1959.48. The Russell 2000 index was up fractionally at 1184.03 and the Nasdaq was down 3.51 points to close at 4359.33.
The Russell 2000 closed at "Trend Neutral," my three-month or longer time frame. This is the first time since March that the index is not in "Trend Bearish" territory.
The big winners in Thursday's market were the gold stocks. As the Federal Reserve continues to signal an easing policy and money printing, the gold stocks are signaling growth slowing and inflation. The SPDR Gold Trust (GLD) was up a whopping 3.48% on Thursday. It has broken above its trend resistance line, according to my internal algorithm process. Take notice. I expect continued strength going forward.
The SPDR Select Sector Utilities ETF (XLU) was up again on Thursday and is now up 16% for the year to date. GLD is now up 9.3% YTD. The S&P Goldman Sachs Crude Oil Trust Index ETN (OIL) is up 11.4% YTD.
Wall Street pundits need to take notice. This is not your normal bull market in 2014. This is all about the Federal Reserve printing money that will ultimately end in an avalanche to the downside. It is no longer a question of if, but when, that avalanche will occur.