Technical indicators and screening measures were positive again Thursday while the market averages treaded water. There are lots of technical positives, but also some flies in the ointment.
Technical indicators could be aligned for a powerful and extended move up in the wake of the Fed baby taper. The fix was clearly in as the dealers sat on the massive pile of cash the Fed injected into their accounts since last Wednesday’s huge Fed MBS purchase settlement. While the rest of the world…
The market has come to the eve of Fed Taper or Not Day, poised to do just about anything. 6 month cycle indicators are on the cusp of sell signals. 13 week and shorter term indicators are on the verge of buy signals. The 6 month cycle projection keeps edging higher.
The market stopped and turned on the dime it had to “or else” on Monday, rallying after a two day test of major support amidst mixed technical signals.
The market averages fought a holding action at the last line of support Friday. This report gives the particulars and covers the likely outcome.
Traders have pushed the market envelope as far as it can go without breaking. Critical support levels are under attack.
If today was any indication, the market may not be able to withstand any tapering of QE. However, it’s too soon to carve any judgment in stone. 1780 and 1760 are crucial support levels. The outlook may or may not change depending on how this test goes and how long term cycle indicators behave. There…
The rally slowed a bit as it ran into a band of resistance. However, the 6 month cycle projection rose.
It was off the races Friday after the market touched and held key support lines for a couple of days. With Fed printed cash building up in dealer accounts after Monday’s Treasury issuance was safely put to bed, the market was just looking for an excuse to rally, any excuse. Ex post facto punditry came…
The market’s steady drift lower has brought the major averages to key support lines, and has put intermediate indicators on the verge of sell signals. This report illustrates that.