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WALL STREET CRAPS STOCK MARKET OBSERVATION FOR MARCH 1, 2015

February 28th, 2015

craps front coverSTOCK MARKET OBSERVATIONS FOR March 1, 2015: The stock market climbed to new highs last week on perceived good news from the Fed. A retest of this most recent high is likely this coming week. Whether that retest is with strength or not will determine if the area we are now in is actually a “top.” With the majority of indicators trending lower in “neutral” positions, the stock market could be performing a “sideways correction” where prices don’t come down much, but breadth does.

Key underlying market indicators show the following:

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ADVICE TO TRADERS AND INVESTORS: The market could reach a trading opportunity soon provided that the majority of indicators become “oversold.” That could happen in the next week or so in the event that we don’t get an immediate retest of the most recent top. If instead we get an immediate retest of the last high, then traders should be ready to sell into strength unless the move up has renewed power (volume) to it. But overall, the best strategy of the last few years has been to “buy the dips and sell the rips.”

STOCKS AT THE BOTTOM: No stocks or ETFs have any Money Flow Indicator or Relative Strength Indicator buy signals at this time.

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