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WALL STREET CRAPS STOCK MARKET STRATEGY MARCH 5, 2017

March 5th, 2017

craps front coverSTOCK MARKET STRATEGY FOR MARCH 5, 2017: The stock market blasted to a new high on its new leg up after President Trump’s State of the Union address. The relentless rally continues with a possible pause next week followed by another quick rally to retest this week’s highs. What is surprising is how close the internal indicators are to being “oversold.” This could mean that a short-term buy signal is not far away and this seems to make almost no sense at all. I’d be looking at the Volatility Indicator for the best timing tool for this next bottom.

Key underlying short-term market indicators show the following:

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THE BOTTOM LINE: The Fear/Greed Index is currently reading “Greed” after being in the “Extreme Greed” for a few days last week. This doesn’t mean that the market is going to go down. It just suggests that you shouldn’t be buying at this time. This type of strong upside market is not one that you’d want to play the short side on. Instead, look for short-term oversold conditions to pop up that offer you a good chance to make some fast money with less risk. Don’t be too surprised if this market continues to climb the proverbial “wall of worry.”

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