jump to navigation

A Slow & Unsure Market October 8, 2016

Posted by Tom in Thoughts.
trackback

Oct. 7, 2016 – I found out one of the problems with living on the coast of the southeastern US this week . . . . hurricanes.  So, we had to evacuate and stay in Atlanta for a few days.  Sure beats trying to live in a house with no power, A/C and then dodge falling debris.  I’ll take the traffic of Atlanta instead.  🙂

So this will be brief, but that’s OK since this market continues to be waiting for some reason to move, either up or down.  Noting the chart below Market Sentiment is “Bearish”, “money Flow” anemic and “Volume Flow extremely slow.  In short, not much activity in any direction.  Third quarter earnings calls start soon and with that a collective “holding of breath” as to the conditions of corporate profits.

nasdaq

Semiconductors, Technology and select Biotech stocks are doing pretty OK now.  Oil and Energy stocks are all over the place as are Airline shares.  Banks are beginning to show some positive signs after being beaten down for most of this year.  I also see some select Industrial stocks showing potential.

The big question is whether this market is starting to roll over?  I’m seeing a lack of buying (demand) more than selling (distribution).  If earnings are weak of some geo-political issues arise then that’s all it will take for this market to sell off.  Europe and Developing Markets are not in that great a shape, so there may be few places to rotate into.

That’s it for now.  More next week as more information rolls out.  Take Care & have a good week.       ……….  Tom  ……….

Comments»

No comments yet — be the first.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: