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Upward Continues December 7, 2019

Posted by Tom in Thoughts.
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Dec. 6, 2019 – And so the upward move continues.  A test of the lower trend line (via negative China trade news), then back up.  This shows that the markets are factoring in some type of “trade deal”; maybe not the whole thing, but something.  Interesting that small cap and mid cap stocks came alive over the past week; generally a positive sign.  Now with earnings season well behind us the focus will be on trade and retail sales for the holiday season.  If either disappoints . . . . well we now have a taste of the result.  It will be sharp & swift.

In the mean time one must follow the trend and it continues to be upward.  Call me skeptical, but I remain an uneasy long investor in here.  Part of my logic is that we’re closer to the top (likely) than we are to the bottom.  The regular chart is back and the software upgrade issue has been resolved.  🙂   (click on chart to enlarge)

I’ve moved the Resistance (at 8705) and Support (8542) levels tighter to try and be responsive to any negative news.  IF these levels are violated on the Close that would confirm a possible trend change or correction.  Until then, the other indicators are positive and we go with the current trend.  Let’s look at the percentage of stocks in the broad S&P 1500 index and see where they stand.

Price Strength – In Accumulation / Distribution –Current short term Sector Strength:

That’s it for now.  Have a good week.   …….  Tom  ……..

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

Upward Trend Continues December 1, 2019

Posted by Tom in Thoughts.
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Nov. 29, 2019 – This was a very short trading week in the US, though there was plenty of news internationally.  Most notable were the continuing back & forth comments regarding China trade.  Things don’t appear to be going very smoothly.  The big question is whether the new tariffs will go into effect on Dec. 15.  The count down continues, though I would not count out a “strategic delay” to give everyone more time.  IF the tariffs go into effect this market will react poorly (IMHO).

The chart below shows the price action.  (My software is acting up; a new version, so a few indicators were not immediately available.)

So far, so good.  I do remain cautious as market breath is starting to narrow; meaning less stocks are participating in this rally higher.  (click on the chart to enlarge it)

With this market breather I thought it would be interesting to compare the performance of the major market Indexes year to date.  The chart below begins at the Dec. 31, 2018 close and continues to last Friday.  You see how each index benchmarks off of the other; Bonds included.

That’s about it for now.  Sector strength remains the same from last week.  Have a good week.  ………..  Tom  ………..

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

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