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Coolhand's Market Analysis

More of the Same

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Two late sell-offs in two days, but not much real damage done.

The trading day started out with a better-than-expected November retail sales number, but inflation crept into the picture as a bigger-than-expected rise in producer prices was also seen.

Perhaps the biggest event of the day was the FOMC policy statement, which was in-line with expectations. But after the announcement stocks sold off, treasuries sold off, and the dollar rallied. But as I said earlier, no real damage was done from a technical perspective.

As a side note regarding bond yields, the 10-yr Note hit 3.49%, which was its highest yield since May.

This market has really not shown any inclination to the downside, although the charts and sentiment have been ripe for pullbacks on and off. Today's action leaves the Seven Sentinels on the verge of a sell signal once again, except for one signal and you probably know which one that is. Here's the charts:

Poll: Was Tom Tempted Today????-$namo-jpg

NAMO and NYMO both flipped to sells today and I note that NYMO is negative territory once again.

Poll: Was Tom Tempted Today????-$nahl-jpg

NAHL and NYHL are also flashing sells. NYHL in particular looks weak.

Poll: Was Tom Tempted Today????-$trin-jpg

Two sells for TRIN and TRINQ.

Poll: Was Tom Tempted Today????-$bpcompq-jpg

Yes, BPCOMPQ was the lone buy signal, but it dipped towards the upper bolly today. The start of something more dramatic?

So as far as I'm concerned the Sentinels remain on a sell and are now suggesting they might roll over to another sell soon, but we're going into a historically strong period and the trend remains up until proven otherwise.

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Comments

  1. Boghie's Avatar
    The 'F Fund' looks horrible.
    The 'G Fund' looks days from being raided.

    I have no idea where to park my assets...

S&P500 (C Fund) (delayed)

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