Home > Stock Market Strategy > WALL STREET CRAP STOCK MARKET OBSERVATIONS – May 17, 2015

WALL STREET CRAP STOCK MARKET OBSERVATIONS – May 17, 2015

May 17th, 2015

craps front coverSTOCK MARKET OBSERVATIONS FOR May 17, 2015: The stock market is at the top of its trading range. The next closing high (or two) in the Dow Jones Industrial Average may turn out to be the last one for the intermediate term. A day or two more to the upside should push all of the breadth indicators to “overbought” levels. That would put a lid on any significant movement in the current rally and strongly favors a sizable correction in the coming 3 to 5 weeks.

Key underlying market indicators show the following:

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ADVICE TO TRADERS AND INVESTORS: If the market back off right here and consolidates, then there is a good chance for a clean breakout to the upside. On the other hand, a quick small move to the upside would probably result in an unconfirmed intermediate term top in the market. This would be a good time to sell into any rally in the next two trading days or even take a small speculative position in a weaker broad-market short instrument like TZA.

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