Home > Stock Market Strategy > WALL STREET CRAPS STOCK MARKET VIEWS – MAY 10, 2015

WALL STREET CRAPS STOCK MARKET VIEWS – MAY 10, 2015

May 10th, 2015

craps front coverSTOCK MARKET OBSERVATIONS FOR May 10, 2015: The stock market rallied on Friday into its projected Bradley Turn Date for May 10th. Whether this pans out or not will be quite interesting as the market’s pattern unfolds in the coming weeks. On the technical side, internal breadth indicators are now in “neutral” positions with last week’s volatility. This means that the market is in the position of going in either direction with equal probabilities. So until there is a clear breakout, the market remains in the tight trading range that’s been in place for the entire year.

Key underlying market indicators show the following:

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ADVICE TO TRADERS AND INVESTORS: The only clearly oversold Exchange-Traded Funds as far as the Money Flow Indicator is concerned is the TLT (Barclay’s 20+ year U.S. Treasury Bond Fund) and the PGF (PowerShares Financial Preferred Stock Fund). This seems counter-intuitive based on the popular perception that interest rates will be rising shortly. Otherwise, this again appears to be a time to stay on the sidelines and away from the risk of this indecisive general market.

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