TSP Talk Sentiment Survey results for the week of 02/22/11 - 02/25/11 Hold: Our Sentiment Survey System remains in a 100% S-fund allocation for the week of 02/22/11 - 02/25/11 after a neutral 1.35 to bulls (50%) to bears (37%) ratio. That means the system's allocation remains 100% S-Fund for next week. Bull market rules are in affect since 9/27/10: See latest survey results
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Earlier this week the Seven Sentinels issued an unconfirmed buy signal, with a NYMO 28 day trading high being the only ingredient missing. Today, NYMO confirmed that buy signal with a 28 day trading high.
What started out as another weak open was once again reversed fairly quickly as dip buyers wasted no time getting on board. Perhaps the early weakness was attributed to the January consumer prices, which saw an increase of 0.4%, while core prices floated up 0.2%. This was only a
New highs - The market tried to fool us on Tuesday getting everyone worried about a pullback, but yesterday we saw the major indices move to new highs yet again. The Dow closed up 61+ points on the day... Market Commentary for 2/17/11 Current Daily Market Commentary
A positive open gave way to somewhat choppy trade, but the major averages managed to close moderately higher after yesterday's modest losses.
Around noon EST some selling pressure came into play around the time of a media report announcing the planned presence of two Iranian warships in the Suez Canal. The concern was how Israel would react to the provocation, but the market's concern didn't last long as the averages bounced back to previous levels by mid-afternoon.
Another dip? - The market took a needed rest yesterday as the indices saw modest losses across the board. The Dow lost 42-points, more than 30-points off the day's low, as we saw a little buying in late afternoon trading... Market Commentary for 2/16/11 Current Daily Market Commentary