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WALL STREET CRAPS STOCK MARKET OBSERVATIONS FOR SEPTEMBER 14, 2014

September 13th, 2014 Comments off

craps front coverSTOCK MARKET OBSERVATIONS FOR September 14, 2014: The stock market experienced a mild correction that has put it in a slightly oversold condition. With a little more downside, it could set up a short-term rally to challenge the old highs. In the meantime, interest rates have increased to provide the backdrop for a more significant decline in the coming weeks. I’d expect one final narrow-based rally within reach of the old highs before the stock market makes a steep decline into October-November.

Key underlying market indicators show the following:

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My advice for traders and investors is let the market set-up for one last rally in order to move completely to the sidelines. The stock market has experienced a long rally for the majority of 2014 and now is the time to prepare for a meaningful correction both in extent and duration.

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