After a big three day bounce off S&P 1040 (third time too) the S&P is now sitting at 1104.51. The indicators are very overbought. It's now post labor day trading. What can we expect? Here's how our fellow TSPers are positioned to start the week. There's one thing that really jumps out at me in the Top 50 charts. The F fund is up big. Real big. And not a lot of stock exposure after that big rally either. ...
Updated 09-07-2010 at 05:23 AM by coolhand (Retracted SS buy signal statement)
Sunday Brief, 5 September 2010 Anything can happen As is traditional, this year both the Transports & Small caps have been leading these markets, with usually the Transports leading by an extra day. So when I look for price direction, I look for these indexes to tell me what's going on. If we push higher, before we do we need to break some upper trendlines. On the Bearish side, the Transports tested & were rejected by the white trendline from ...
Updated 09-05-2010 at 10:06 AM by JTH
Pre-holiday Rally, Post-holiday?? Although the economy is still not showing great signs of growth, we saw a couple of better than expected economic reports last week, including the jobs report, the ISM, and consumer confidence, and that was enough to propel the stock market higher last week. It was a pre-holiday week, which is usually accompanied by light volume trading, allowing the indices to get pushed around quite easily, so we’ve been skeptical as to whether the gains ...
The big money has certainly made their point. In thin trading they can do pretty much what they want to do, when they want to do it. September is off to a robust start and I won't deny the charts are looking bullish. But the charts were looking quite bearish just 4 trading days ago and we were in a bear market. Now we're probably back in a bull market and the bearish charts were blasted apart. It's not unusual to a see a huge rally in a bear market though, so there's ...
Updated 09-07-2010 at 03:48 AM by coolhand (Retracted Seven Sentinels buy signal)
Stocks extended their gains for the second day in row, which really gets September off to a bang. But the non-farm payrolls looms on the horizon. How will the market react to those numbers? We remain very overbought, so some selling would seem to be in cards at this point, but I would not rule out another run to the upside tomorrow as we head into the Labor Day weekend. It's what happens next week that's of primary interest to me, but I am expecting to see stocks give some of their ...
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