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Markets Hold Up Well, Next Week Is Critical July 23, 2011

Posted by Tom in Thoughts.

No doubt about it, the news is driving this market, worldwide.  Witness the sudden up and down thrusts which coincide with announcements.  “The Money” is nervous.

What’s doing well are oil exploration, refining and service stocks, casino & gaming, select computer and precious metals.  It looks like is may be the “safest” place to hide right now, as many institutions (i.e. mutual funds) are required to stay fully invested at all times.

Overall though, a look at the Accumulation and Distribution trends in the S&P 1500 index are fairly healthy (below, click on graphic to enlarge).

Chart used with permission: www.highgrowthstock.com; copyright 2010-11

Also, the Direction is very heavily toward Accumulation (77%) vs. Distribution (20%); money is entering the market.  I just would prefer that the volume was a shade more positive, that is higher volume on the Up days and low on Down days.  And of course, a stable news environment.  Maybe we’ll see that next week.

Take Care, have a good week and be careful.


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