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Just a brief holiday extended weekend commentary today after Wednesday's half day trading session that saw the Dow gain 56-points, the S&P and small caps picking up small gains, and the Transports losing some ground.
TSP Talk Sentiment Survey results for the week of 7/08/13- 7/12/13
Buy: The TSP Talk Sentiment Survey came in at 44% bulls, 45% bears, for a bulls to bears ratio of 0.98 to 1. That is a buy signal in a bull market which means the survey system will remain in a 100% S fund allocation for the week of 7/08/13 - 7/12/13.
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
Stocks opened higher on Tuesday and like Monday, the indices peaked in mid-morning trading. A 75-point early gain turned into a mid-afternoon 100-point loss for the Dow, but some buying toward the close left it down just 43-points.
Despite being up 174-points in early trading, the 5-day streak of triple digit moves in the Dow (on a closing basis) ended yesterday as the indices closed well off their highs. The Dow ended the day up 65-points, but closing 109-points off the high was obviously a disappointment for the bulls.
I remember back in the 70's when a radio disc jockey in New York would play a popular song, and when it was over they'd announce in a colorful voice, "Instant Replay!", and then they'd play the same song a second time.
Well, I'm going to do an "Instant Reply" to the start of Friday's commentary, with just minor changes...
It was another triple