A Quite Up Week December 27, 2013
Posted by Tom in Thoughts.Tags: market analysis, stock market commentary, technical analysis
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This was a very quite week, the last full week for 2013. It has been a very good year and this week just kept that theme alive. I won’t post a price chart, but suffice it to say the prices continue to ride that upper channel line upward. The daily bar range (difference between the high & low price) has been narrow all week, along with low volume. Just about every trader, institutional or private, is on vacation. I don’t look for any meaningful moves until after January first, 2014, and then only probes one way or the other.
I do remain concerned about how far we’ve come in such a short period of time. But until we see prices move down with high volume (selling) or move upward on very low volume (lack of demand), I’ll just enjoy the ride. A correction will come, we just need to be aware of what to watch for and it’s magnitude (volume in the move will be our clue).
The pie charts below are the number of stocks in the S&P 1500 Index that are: A) in Accumulation, Neutral or Distribution (this shows “money flow”) and B) the number of stocks with Strong, Neutral or Weak price structures / trends. These looks pretty good right now.
Stocks in Accumulation / Distribution
Stock Price Strength
charts courtesy of www.HighGrowthInvestor.com; used with permission
I wish you and your family a very happy, health and prosperous New Year in 2014. ………. Tom ………….
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