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WALL STREET CRAPS STOCK MARKET STRATEGY MARCH 31, 2021

April 1st, 2021 Comments off
craps front cover

The stock market bottomed in early March and has not retested that level since. Right now, all of the internal indicators are mid-range with no pressure to go in either direction. There is strength in the advance/decline line and the Dow Jones Transportation Average, while there is apparent weakness in the McClellan Summation Index. All of this suggests that a churning market with a slight bias to the upside can be reasonably expected with no sharp sustained actions in either direction.

Key underlying short-term timing indicators show the following:

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NYSE McClellan Summation Index: This key trend indicator has been in a downtrend for several days now but without a break in the price action. Right now, the indicator is clustering with a possible move back to the upside soon. In addition, the Fear/Greed Index is in the “Neutral” territory suggesting that the market can go either way or simply continue sideways for the time being.