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WALL STREET CRAPS STOCK MARKET STRATEGY – OCTOBER 25, 2015

October 24th, 2015

craps front coverSTOCK MARKET STRATEGY FOR OCTOBER 25, 2015: The stock market appeared to be headed towards a short-term oversold bottom by mid-week, but instead revered to the upside in a big way. But daily TRIN readings have continued to be negative despite this last run-up which only serves to add confusion to any breadth analysis. That being said, this means that any buying opportunity will be pushed back another few weeks as the market will need time to set itself up again for an oversold bottom.

Key underlying short-term market indicators show the following:

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THE BOTTOM LINE: This is a time to step aside and let the market digest its recent gains. It appears that the general market will continue to “climb a wall of worry” on its way to new closing highs. The only thing that would likely set itself up for a new decline and a possible oversold bottom would be an actual rise in interest rates by the FED. This still remains a possibility as we approach December.

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