jump to navigation

The Slow March (Up) Continues February 5, 2017

Posted by Tom in Thoughts.

Feb. 3, 2017 – This will (again) be a fairly short commentary because of the continued movement up the trend channel (purple lines).  (click on graph to enlarge)


For now, Market Sentiment, Money and Volume Flows all continue to be positive.  My key support level is 5512 on the NASDAQ Composite Index, which is the low of the weekly bar where a “buying commitment” was made.

price-strengthPrice Strength (above) for stocks in the S&P 1500 Index is fairly strong and positive.

a-dAs is the Accumulation / Distribution (buying / selling) of those stocks.

2017-02-05_8-12-16Sectors that appear to show the most strength are shown in the pie chart above.  These sectors have remained strong for many weeks now as accumulation of shares continues.  I still am watch the momentum of the Advance – Decline data, which  shows the move slowing and narrowing.  Signs of at least a pause in this rally; but timing is not certain.

I continue to “ride the wave” higher, but deep inside realize that a correction could come at any time now.  There is so much instability in this market environment.  Rather concerning to say the least.

Have a good week.       …………  Tom  ………..

Price chart by MetaStock; pie charts by http://www.HighGrowthStock.com. Used with permission.




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 )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: