Home > Stock Market Strategy > WALL STREET CRAPS STOCK MARKET OBSERVATIONS FOR JULY 20, 2014

WALL STREET CRAPS STOCK MARKET OBSERVATIONS FOR JULY 20, 2014

July 19th, 2014

craps front coverSTOCK MARKET OBSERVATIONS FOR July 20, 2014: The stock market reached short-term oversold conditions on “obvious bad news” Thursday. A bounce on Friday has put most internal indicators in “neutral” positions. With the old highs less than 100 points away, it is certainly possible for the market to continue its march upwards to new highs. So with prices near their highs and breadth oscillators near their lows, it allows for room to travel in either direction.

Key underlying market indicators show the following:

***********

My advice for traders and investors is do nothing and let the market set itself up for its next big move. More downside here would permit the oscillators to become more oversold and present a short-term buying opportunity. Despite the length of this rally, it still could have even more to go on the upside.

***********

Be Sociable, Share!
Comments are closed.