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Not Much New Here July 7, 2013

Posted by Tom in Thoughts.
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OK, we had a major US holiday in the middle of the week, with every reason for folks to take the week off; and they did.  Yes the market moved higher, but with this very low volume and participation environment, that may not mean very much.

Case in point: remember just a few weeks ago the market went down (supposedly) because the 10 Year Interest rates moved higher?  Well, they did it again on Friday and guess what?  The markets moved higher.  Same stimulus, different reaction.  (Notice how no one brought this up tho?)

So let’s wait until next week to see what follow thru there is.  With all the news in Egypt and the mid-east just about anything can happen in here.  And one thing is certain:  The markets do not like uncertainty.

The chart below shows the activity.  I’m looking for a Close above 3488  (the green line) before I can start to fell Bullish again.  Take Care and have a good week.       ………  Tom  ………

NASDAQ

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