Home > Stock Market Strategy > WALL STREET CRAPS STOCK MARKET OBSERVATIONS – APRIL 26, 2015

WALL STREET CRAPS STOCK MARKET OBSERVATIONS – APRIL 26, 2015

April 26th, 2015

craps front coverSTOCK MARKET OBSERVATIONS FOR April 26, 2015: The stock market is at the top of its trading range right now. While the Nasdaq and S&P 500 are reaching new highs, the Dow Jones Industrial Average and Dow Jones Transportation Average have yet to confirm. With all six of the internal breadth indicators listed below in neutral positions, the general market has room to go in either direction. This is a time to step back and let the market determine its own course. With the release of Apple’s earning on Monday, we could get our answer real soon.

Key underlying market indicators show the following:

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ADVICE TO TRADERS AND INVESTORS: There are no trades in sight except for possible accumulations of precious metals on further weakness in the coming weeks. While it may not be the final bottom for these issues, a policy of dollar-cost averaging may be a smart way to play the GDX, GLD, and/or SLV Exchange-Traded Funds. These ETFs are gradually approaching the lower end of their trading ranges where they should all find support. Of these issues, I prefer the GDX because it has the highest average daily volume and greatest volatility.

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