More of the same - Stocks rallied. Bonds moved lower. The Dow moved higher for the 7th straight day closing up another 72-points... Market Commentary for 2/09/11 Current Daily Market Commentary
Another rate hike in China seemed to cause some direction-less trading early on, but as the trading day worn on the broader market managed to chop its way higher and closed out the session with yet another 2-year high.
Treasuries continued their slump, which saw the 10 year note close above 3.7%.
The Seven Sentinels got closer to a confirmed buy today, but fell short by a relatively slim margin. Here's the charts:
Cringing - Stocks rallied yet again yesterday, and that's now 10 of the last 12 days that the Dow, which gained 69-points on the day, closed higher.... Market Commentary for 2/08/11 Current Daily Market Commentary
Recent volatility notwithstanding, if this market was going to sell-off I think it would have long before now. It's more than obvious at this point that the powers that be want higher prices. I've had 2 unconfirmed buy signals in the past few trading days, but NYMO has not quite made a 28 day trading high to confirm those buys. However, the sell signal that was issued on 21Jan has not fared well. Not when the broader market continues to hit fresh 2-year highs. That leads me to believe that this
New high in stocks, yields break- Stocks moved higher on Friday as the jobs report gave investors a bit of a mixed bag, but it was another opportunity for the dip buyers to do their thing Market Commentary for 2/07/11 Current Daily Market Commentary