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Market Getting Closer to Thin Ice April 14, 2017

Posted by Tom in Thoughts.
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April 13, 2017 – More and more of my indicators are turning down now.  Volume is low (lack of demand) and prices are dropping because of that; buyers are not stepping in right now.  Are all of the “willing buyers in” right now, and there is no one left to buy ?  Doubtful in the overall picture but there is all sorts of news to make folks concerned about the immediate future.

Earnings have begun to come out and this market has not been inspired by them even thought the bank earnings have been pretty good.  The NASDAQ Composite Index (above) needs to hold above 5769, otherwise we’ll likely see a very low & slow summer.

I’m not looking to add any positions, but let’s look at the very broad S&P 1500 stocks.

Buying / Selling Pressure:

Price Strength:

Have a Happy Easter !         ……. Tom ……

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