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Stocks struggled to find direction yesterday, and luckily for the bulls, the last direction was up as the Dow gained 34-points on the day after being down sharply just a of couple hours earlier.
TSP Talk Sentiment Survey results for the week of 5/29/12- 6/01/12
Buy: The TSP Talk Sentiment Survey came in at 42% bulls, 50% bears, for a bulls to bears ratio of 0.84 to 1. That is a buy signal which means the system will remain 100% S fund for the week of 5/29/12 - 6/01/12.
Bull market rules have been in effect since the week of 1/09/12:
See latest survey results
To discuss or comment on the Sentiment Survey, go to Sentiment Survey Talk
The last 2 days of May, and the first few days in June have a strong historical seasonal record, although last year (2011) June 1st was terrible...
Dow May 24 thru June 10:
Yesterday, (May 22) the SP 500 index ended with a long legged doji candlestick, as shown on the chart below. The open was 316.09 and the close was 1316.63 so the real body was very small; while the day’s range vacillated from 1328 to 1310. Today (5/23) was a high wave where again the day’s range was large from 1320 to1296 with a long lower shadow, but the real body was fairly small, opening at 1316.02 and closing at 1318.86. You could also call today a hammer, but ideally you should not see any
Stocks opened sharply lower yesterday, but an early 190-point decline was erased and the major indices closed mixed with the Dow losing 7-points, and the S&P 500 and Nasdaq closing up on the day.