Intrepid Trader posted some interesting January results data in his report today, and it reminded me of the data I have been posting each year between Christmas and New Year's.
I'll put it in my commentary next week, but here's a sneak peak.
These are the results of the last 2 trading days of the old year and the first 3 of the new year, going back to 1996/97.
How much more pressure can the market take? - It was another light volume rally for stocks yesterday as the sellers seemed to have taken an early vacation. We saw modest gains across the board and the Dow picked up 26-points on the day... Market Commentary for 12/23/10 Current Daily Market Commentary
TSP Talk Sentiment Survey results for the week of 12/27/10 - 12/31/10 Sell Signal: Our Sentiment Survey System moves to a sell signal and 100% G-fund allocation for the week of 12/27/10 - 12/31/10.
The bulls (64%) to bears (20%) ratio is 3.20 to 1, which is a sell signal in a bull market, so the allocation moves to 100% G. Friday is a holiday so the IFT will be done on the morning of Thursday, 12/23. Bull market rules are in affect since
The Santa rally continues - The market opened higher yesterday and held on to the gains into the close as this Santa rally just keeps rolling along despite several warning signs. The Dow was up 55-points on the day... Market Commentary for 12/22/10 Current Daily Market Commentary
Back on my 2 Dec blog I pointed out that the Seven Sentinels were all flashing buys, but that I couldn't confirm the signal without NYMO hitting a new 28 day trading high. On 3 Dec the Sentinels remained in an unconfirmed buy mode. I chose to err on the side of caution as I was concerned about whipsaws, which is what the signal confirmation is suppose to help mitigate. But I did say that if one is more inclined towards risk, you may want to buy this market anyway even though I myself would not.
Updated 12-22-2010 at 08:47 PM by coolhand