If you would like an email sent to you when I update the blog please send an email with "subscribe" in the subject line to traderbob58@gmail.com. To be removed use "unsubscribe".

Search This Blog or Web

Wednesday, March 27, 2013

Daily update 3/27

The string continues if only a marginal down close today.  I suspect quarter end window dressing had a lot to do with the rebound from the gap down this morning.  Here is the daily SPX chart.

If the day to day pattern continues tomorrow we are due for an up day.  Being the end of quarter and it is now frowned upon for money managers to do window dressing it could be a slow day.  However, with Europe now a wild card again we could have more excitement.  I don't think they will be out buying a gap down tomorrow with the same enthusiasm if we get one.  The price of SPX is hanging in there, but there are other things slipping.  Lets look at a few important sectors.

TLT was up .88% today.  There are quite a few sectors diverging now from the major indexes.  Around the world Japan is the only major market index still at the highs.  The rest of the globe appears to be in a risk off phase.  Some markets are well off their highs.  This makes sense given the signs I have shown on the blog that indicate the global economy is slowing down again.  Since 3/14 SPX has been losing the support of some important sectors.  How much longer can it hold up?  I suspect we will find out in April.

Chart practice has been updated with AAPL the stock tonight.


No comments:


The information in this blog is provided for educational purposes only and is not to be construed as investment advice.