Resistance or the rally? - Stocks rallies sharply again yesterday with the Dow gaining 152-points. Some of the major indices are now up against resistance so what will win out - the resistance or the rally?... Current Daily Market Commentary Market Commentary for 7/01/11
TSP Talk Sentiment Survey results for the week of 7/05/11- 07/08/11 Hold: The TSP Talk Sentiment Survey came in at 50% bulls, 37% bears, for a bulls to bears ratio of 1.35 to 1. That is a neutral reading so the system's allocation remains 100% S-Fund the week of 07/05/11 - 07/08/11. Bull market rules are in affect since 9/27/10: See latest survey results To discuss or comment on the Sentiment Survey, go to Sentiment Survey Talk
Yet another strong advance puts an exclamation point at the close of the second quarter, although the quarter still ended with a modest loss overall.
The volume had been thin so far this week, but today's advance saw a bit more interest as the NYSE almost hit 1B shares traded. That happens when technical systems start flipping to buy conditions. And I noticed that our sentiment survey, which hasn't closed for this week yet, is already showing
Window Dressing? - Stocks rallied for a third straight day yesterday as June, which started very weakly, has improved nicely as we head toward the end of the second quarter. The Dow gained 72-points... Current Daily Market Commentary Market Commentary for 6/30/11
The pre-holiday bias has definitely delivered for the bulls as the broader market made it three straight gains in a row today.
And there were no surprises over in Europe as the Greek Parliament finally passed the country's new austerity plan in the face of ongoing protests in the streets of Athens.
On the domestic front, pending home sales increased by 8.2% in May, which was much better than the 0.6% decline economists expected.