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A Time for Caution Perhaps May 13, 2017

Posted by Tom in Thoughts.

May 12, 2017 –  A pretty uneventful week but market breath is deteriatiing (the number of stocks participating in this rally).  Note the “Market Sentiment” indicator below has gone from Bullish to Neutral.  I also note that volume is falling off, which means that both buying and selling interests are low.  If there is nothing to propel this market higher I would expect a minor fall back

But all of this is just a little premature, just keep an eye open for weakness.  Trend lines and support levels remain the same as last week.  And here are the areas that are showing the most strength:

The stocks in the S&P 1500 Index have backed off of their rally run (price strength), with the “neutral” category increasing.

No red flags yet . . . just caution and a time to be extra selective..  Got to go, but have a good week.    ……………  Tom  …………..


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