Wall Street Craps – 2012 Global Ebook Finance Award-Winner

STOCK MARKET STRATEGY FOR SEPTEMBER 30, 2018: The stock market is churning at a high consolidation area which neither good or bad. While it may seem like the market is overdue for a correction after this long rally, it still shows resiliency in the face of a mixed bag of political and economic news. With the three timing indicators set almost identically around the neutral reading of “50,” I’d expect the market to either correct into a short-term bottom or rally into resistance and a short-term top. But most of all, there is nothing to do right now.

Key underlying short-term timing indicators show the following:

• NYSE McClellan Oscillator – Ultimate Indicator Reading – 51 (neutral)
• Nasdaq McClellan Oscillator – Ultimate Indicator Reading – 52 (neutral)
• Volatility Indicator – Ultimate Indicator Reading – 47 (neutral)
• S&P 500 % Above 50-Day Moving Average – 42 (neutral)
• Nasdaq 100 % Above 50-Day Moving Average – 44 (neutral)

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THE BOTTOM LINE: The Fear/Greed Index is currently reading 47 or “Neutral.” This makes the market within striking range of a quick move to “Extreme Fear” under 25 and a chance to a short-term tradable rally to participate in.

STOCK MARKET STRATEGY FOR SEPTEMBER 23, 2018: The market’s rally has continued to push upwards while running into resistance. The current breadth indicators are presently in mid-range (neutral) and suggests that another challenge to new All-Time Highs is likely in the near term. If we should get an “oversold” condition in the coming weeks, it would be worth the risk to trade for another leg of the rally despite the time and extent of this bull run.

Key underlying short-term timing indicators show the following:

• NYSE McClellan Oscillator – Ultimate Indicator Reading – 59 (neutral)
• Nasdaq McClellan Oscillator – Ultimate Indicator Reading – 55 (neutral)
• Volatility Indicator – Ultimate Indicator Reading – 62 (neutral)
• S&P 500 % Above 50-Day Moving Average – 61 (neutral)
• Nasdaq 100 % Above 50-Day Moving Average – 51 (neutral)

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THE BOTTOM LINE: The Fear/Greed Index is currently reading 75 or “Extreme Greed.” This doesn’t mean that the market is overbought and time to sell. But it does suggest that it is not the time to buy. That would come on a move to the “Extreme Fear” territory.