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At Resistance; Next Move ? September 22, 2019

Posted by Tom in Thoughts.
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Sept. 20, 2019 – (editorial comment)  I just returned from spending 4 weeks in Europe, both Northern & Southern. I saw a lot of infrastructure projects in full bloom, and (IMHO) an absorption of immigrants into their society; it hasn’t been easy, but they are doing it. (I saw a north African man speak pretty good Finnish, and take it from me, that’s not an easy language to learn.)  🙂

NASDAQ

US market trend in the short term is up, but again, the price action is not that favorable. Looks like we’ve hit a resistance at the 8172 level on the NASDAQ Composite Index; volume is about average but I’m thinking a “lack of demand”. Next week should be interesting. I think we’ll see a significant move one way or the other.

Sectors

All of the sectors have a ranking below 200, which makes me a bit uneasy as far as trend strength is concerned. (table attached) So, I’m continuing to be cautious here with any big positions.

A short post today, more as I recover from jet lag.  🙂  Have a good week.

…………  Tom  ……….

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

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