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A higher close was had on Tuesday, therefore the Positive Friday & Monday Indicator executed successfully.. From Monday’s blog I wrote
“Looking ahead, I expect this market to resume prices to the upside within the next few days, but I do not expect the markets to make new 52 week higher highs because of the technical damage. From my perspective the downtrend remains intact under 1575 and I wouldn’t be surprised if we started to develop a 1550-1575 trading
Updated 04-24-2013 at 08:20 AM by JTH
(CORRECTION: I'm under in TSP MTD, above in terms of the Wilshire 4500.)
Strange day yesterday. Stocks rallied strongly in the morning. plummeted in the early afternoon, and rallied into the close. The Dow gained 152-points, but it had to withstand a mini-crash caused by a tweet hacker.
Over the last 25 sessions, Tuesday has a 72% winning ratio, with a very strong positive bias over all 100 sessions. Simply stated, for right now, this is the best day of the week to make money.
You may recall last week I talked about the Negative Friday & Monday Indicator being triggered. True to the law of averages, it played out and lower closes were had
Updated 04-23-2013 at 05:16 PM by JTH
Stocks started the morning in the red but this resilient, unloved market continues to perform well, just when we think it is about to break down. The Dow gained 20-points but once again the broader indices performed much better.
It was a painful week for investors, and this month has felt downright bloody, but if we step back and look at the bigger picture, the reality is the S&P 500 is down only -.49% MTD. It’s not the prices drop that’s been scary, but the relatively short amount of time it’s taken for those prices to drop. If you feel like you’re getting shaken from your conviction to stay invested, perhaps this chart of April’s returns over the last 60 years will help convince
Updated 04-22-2013 at 12:58 PM by JTH