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Monthly Archives: November 2005
SHORT TERM: NEUTRAL. The new high in the SPX we anticipated just occurred. The DOW is still about eight points shy, but with continued weakness in the NDX/NAZ I’d expect a short term pullback here, for a day or so. Then, … Continue reading
Shall we call this capitulation weekend? All four major indices closed above their July/Aug tops on friday, in fact, they gapped above them and stayed there. We now have the NDX/NAZ/SPX all in uncharted, bull market territory. The one laggard is … Continue reading
SHORT TERM: positive. This is certainly a Nasdaq bull market! Just as we have stated from the very beginning. And, the last few days action are certainly the epitome of this statement. The NAZ puts in a high on fri/mon: then goes sideways … Continue reading
SHORT TERM: NEUTRAL. I’ve turned into an excellent short term contrary indicator lately, amazing. Looks like we’re finally getting a short term correction. Let’s see if this market gets oversold on the 15minute charts, and then do some buying. Added two … Continue reading
SHORT TERM: positive. We’ve had a breakout in the DOW, exceeding 10,720 and new highs in the SOX index. It appears to me the market is preparing to extend this advance again before any meaningful correction occurs. LONG/INTERMEDIATE TERM: bullish.
SHORT TERM: neutral to positive. The SOX index and the TRANsports look like they have more work to do on the upside. Our four horsemen: NAZ/NDX/SPX/DOW seem to be consolidating recent gains with their sideways activity for most of today. On … Continue reading