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

Tuesday, November 11, 2014

Daily update 11/11

The bond market was closed for Veteran's day (thanks to all those that have served).  That led SPX to a whopping 6 point intraday range.  Here is a look at the daily chart.

We eked out one more positive day in the slow creep up pattern.  Breadth was barely positive.  Is there any gas left in the tank?  That is normally about all the slow creep pattern lasts.  It might be time for a bit of a pullback or at least some sideways movement.  Lets see what the futures chart has to say.

Not only was today's intraday range narrow it was narrow overnight as well.  Altitude has been a bit hard to come by for the last week.  However, there has been no selling pressure either.  Hence the slow creep up.  Until something comes along that causes people to hit the sell button it is status quo.  Just remember that sometimes the slow creep pattern ends with a big thud. 

This is a good article with actual historical research on secular bear market lows.  Market Masters: Durable Secular P/E Lows Are a Combination of P and E 


No comments:


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