resumption of the bull market?
- Thread starter gharghur2
- Start date
SHORT TERM: neutral to positive.
The SOX index and the TRANsports look like they have more work to do on the upside. Our four horsemen: NAZ/NDX/SPX/DOW seem to be consolidating recent gains with their sideways activity for most of monday. On the 15 minute charts, it just doesn't look like this market is ready to go down yet. It had ample opportunity monday.
Keep on eye on the SOX index and the TRANsports on tuesday. They should provide the answer.
INTERMEDIATE/LONG TERM: bullish.
The SOX index and the TRANsports look like they have more work to do on the upside. Our four horsemen: NAZ/NDX/SPX/DOW seem to be consolidating recent gains with their sideways activity for most of monday. On the 15 minute charts, it just doesn't look like this market is ready to go down yet. It had ample opportunity monday.
Keep on eye on the SOX index and the TRANsports on tuesday. They should provide the answer.
INTERMEDIATE/LONG TERM: bullish.
SHORT TERM: positive.
This is certainly a Nasdaq bull market! Just as we have stated from the very beginning. And, the last few days action are certainly the epitome of this statement.
The NAZ puts in a high on fri/mon: then goes sideways waiting for the general market SPX/DOW to catch up, then turns down on tuesday taking the rest of the market with it. Just as it looks like we have completed five waves up from the late Oct lows, and are ready for a decent correction, the NAZ bottoms wednesday and turns up again. Today, the NDX gaps up on the open, making news highs, then waits while the NAZ, then the SPX and finally the DOW get going. Once all in line, they all rally into the close. The five waves are extending into nine!
http://spaces.msn.com/members/caldaroEW/
This is certainly a Nasdaq bull market! Just as we have stated from the very beginning. And, the last few days action are certainly the epitome of this statement.
The NAZ puts in a high on fri/mon: then goes sideways waiting for the general market SPX/DOW to catch up, then turns down on tuesday taking the rest of the market with it. Just as it looks like we have completed five waves up from the late Oct lows, and are ready for a decent correction, the NAZ bottoms wednesday and turns up again. Today, the NDX gaps up on the open, making news highs, then waits while the NAZ, then the SPX and finally the DOW get going. Once all in line, they all rally into the close. The five waves are extending into nine!
http://spaces.msn.com/members/caldaroEW/
I like this kind of posts. It's informative.
I still think that the trend is flat and that stocks went from oversold to <i>corrected</i> and that when temperatures return to normal, oil is very likely to return to $60.
As far as the economy goes, lets not forget this side of the reality, the <i>flexible economy</i>:
<img src="attachment.php?s=&postid=901667" target="_blank">
Source: Bureau of Labor Statistics
As far as the economy goes, lets not forget this side of the reality, the <i>flexible economy</i>:
<img src="attachment.php?s=&postid=901667" target="_blank">
Source: Bureau of Labor Statistics
Stocks: and now heading to overbought?
Oh Yes, the chart!
Disgusting isn't it? The hidden real economy: gradual decline in the standard of living. I remember discussing with someone, that in the 1960's, a laborer could buy a house for 4 to 5 times his annual salary. Now, it's in the neighborhood of 10 times plus. There has been a definite steady erosion of real earnings over the years. We need to play the markets just to keep even
Going from oversold directly to overbought very seldom happens in my view because emotional mass is such that it will either make prices bounce for an extended period below or for an extend period above a trend that I derive from my calculations about the market's dominant target prices or, talking about masses, its gravitational level. Stocks will probably go down next week once the front month options expired.
I agree and I also think that financial markets are much fairer than the job market. Being a programmer, I get laid off on average once a year and end up having to scavenge my trading accounts because medical insurance and housing for a whole family is pretty darn expensive. My goal, my BIG ambition is to keep a well paid job for two years straight so that I would have enough time to save money to trade again (this part is done) and then, <b>based on my current performance</b> with trading the Dow, make enough profit in that amount of time to become independent.Quote from gharghur2:
There has been a definite steady erosion of real earnings over the years. We need to play the markets just to keep even