Upward Trend Continues December 1, 2019
Posted by Tom in Thoughts.Tags: market analysis, stock market commentary, technical analysis
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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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