Although nothing to write home about, all of the major indices this past week held above the previous week’s lows, leaving open the question, “do we go higher or lower from here?” If I had to guess I’d say “higher,” as the market continues to work off its oversold condition. However, the current market trend [...]
A nice snap-back rally is underway, and – given the oversold conditions from which it developed – I wouldn’t want to underestimate its upside potential. However, the market has a lot of work to do if it’s going to reverse the currently negative intermediate- and longer-term weekly trend picture. So, while the current rally likely [...]
The market wasted no time resuming its downtrend last week, leaving the weekly trend analysis of major indices and industry sector ETFs awash in red – confirming that a significant downtrend is underway. That said, the nature of the decline so far – fast and steep – has set up oversold conditions from which a [...]
Many market observers have been quick to sell into the current rally off of the 5/24 lows. They cite – among other things – poor market breadth and volume, and weakness in semiconductors and foreign markets, as reasons to be bearish. Certainly the weekly trend analysis continues to reflect a negative or neutral intermediate-term trend [...]
