Home > Stock Market Strategy > WALL STREET CRAPS STOCK MARKET STRATEGY – JULY 19, 2015

WALL STREET CRAPS STOCK MARKET STRATEGY – JULY 19, 2015

July 18th, 2015

craps front coverSTOCK MARKET STRATEGY FOR July 19, 2015: The internal market indicators are approaching overbought levels just as the major averages are reaching resistance. While there is still room for more upside action especially with Apple reporting this week, the normal course of action would be a mild or sideways correction. After the recent “Perfect Storm” of negativity (Greece, China, rising interest rates, Wall Street power outage), the market may have created a clearly-defined floor at Dow 17500. This means that all dips should now be bought.

Key underlying market indicators show the following:

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ADVICE TO TRADERS AND INVESTORS: Postpone new purchases until the market works off its overbought readings. The next bottom may be short-lived and not amount to much in terms of a price correction. The general market may only need time to stall rather than correct in terms of price. After this most recent “Perfect Storm of Negativity,” the marekt could be in the position of “climbing the wall of worry” in the July-August-September time frame after a brief pause. It terms of sentiment, the market has seen the worst for the time being.

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