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Slow Progress October 14, 2017

Posted by Tom in Thoughts.
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Oct. 13, 2017 – Another busy week, but not much (new) is happening.  The markets are progressing higher though at a slower rate.  That “breather” may be good; it gives it a chance to catch up.

We note the similar situation to the past few weeks. Moving higher toward the top of the trend channel.  This market is “fully valued” if not “over valued”, but up is up.  I note the continued decrease in volume.  I remain on the look out for an Up Thrust in price on low volume.  So far, no thrust higher (wide range bar) with a low close.

Semiconductors, Japan, Basic Materials and Internet stocks are on my radar right now.  (I also note that Emerging Markets are reviving; something to watchout for.)  That’s ’bout it for now.  Have a good week.        ……….  Tom  ………..

(chart by MetaStock; used with permission)

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