STOCK MARKET STRATEGY FOR APRIL 24, 2016: The stock market peaked on Wednesday and had a mild decline from that point. I would expect a retest of that high around mid-week with a new closing high for this move. That could mark the end of upside momentum and a start of a more substantial correction. With most of the internal indicators neutral/trending down, the market can go in either way. The action right now is simply setting up the next opportunity whichever direction that may be.
Key underlying short-term market indicators show the following:
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THE BOTTOM LINE: The stock market is in “no-man’s land” right now. It is setting up for the next intermediate term move. We may surprise some by moving up from here in order to get a more distinct “sell signal.” That would come when a new closing high is accompanied by non-confirmations of strength across the board. Or we could decline into late April with the final top in May.
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STOCK MARKET STRATEGY FOR APRIL 17, 2016: The stock market continued its rally after a short-term semi-oversold condition early in the week. With all the breadth indicators at neutral readings, the market can go in either direction from here. If we should correct from here, I’d be looking to buy the dip. Until we have a key reversal day that starts sharply higher and closes sharply lower, I’d expect the market to continue drifting higher while climbing the proverbial “wall of worry.”
Key underlying short-term market indicators show the following:
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THE BOTTOM LINE: The stock market may correct from here and present a buying opportunity either at an oversold condition or at the 200-Day Moving Average some 70 points lower in the S&P 500. In any case, such a buying opportunity would be at least a week to 10 days away at a minimum. On any strength, I’d look to lightened up on trading positions as this rally is getting a little “long in the tooth” and due for a breather. My hunch is that this coming week will see a top in the market.
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STOCK MARKET STRATEGY FOR APRIL 9, 2016: The stock market had a mild correction during this past week with several internal indicators moving into range of a short-term buy/oversold signal. I would expect a bottom to arrive this coming week with a retest of the April 1st high later in the month. But with neutral breadth readings across the board, the stock market can surprise us and swing in either direction. Look towards any retest as an opportunity to lighten up on overextended positions.
Key underlying short-term market indicators show the following:
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THE BOTTOM LINE: Be ready for a short-term bottom and a quick move back to the previous DJIA high of 17792 on April 1st. That may be a good opportunity to lighten up on your positions with the anticipation of a more extended correction and bottom in May.
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STOCK MARKET STRATEGY FOR APRIL 3, 2016: The stock market continues to push upwards climbing the proverbial “Wall of Worry.” I would expect the All-Time Highs to be tested and then retested soon. The month of April should be a time where the markets does all of this correcting, but watch out for May as it could be a time of real decline. But for now, continue to lighten up positions as the general market approached the old highs.
Key underlying short-term market indicators show the following:
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THE BOTTOM LINE: The stock market should be testing the All-Time Highs in the next week to 3 weeks. Right now the indicators are at their lower end and allow for more upside to continue. This is not a time to be short the market, but instead an opportunity to lightened up on overextended positions.
Categories: Stock Market Strategy Tags: investing, investing tips, investments, money, QQQ, SPY, stock action, stock market, stock trading, stock trading tips, stocks, tony robbins, trading, trading tips, wall street