Well I believe the party is now officially over. After enduring the lowest volatility in DECADES we spurted higher on mixed jobs data and wage increases. Yes we broke out, yes we are in an uptrend, yes the breakout came after an extended consolidation, yes earnings are up, blah, blah, blah. But now the drunken partygoers must get in the their cars and drive home.
Ned Davis: "Historically, we have found that the ratio of money going into stocks versus bonds to be a fair measure of speculation," Mr. Davis says the data is "unfavorable" for stocks, "especially since inflows tend to peak in April."
"Mutual funds have been pouring money in stocks -- and that could be a bad thing, says Ned Davis of Ned Davis Research. http://www.sentimentrader.com/subscriber/charts/WEEKLY/MUTUAL_FUND_CASH_PREM.htm
Calm before the storm. Gold @ $700, over 1k soon. Gas @ $5/gal (soon). Raise, raise, raise. Asia buys bonds. Print, then print some more. New territory for me, but volatility seems ready to squeeze. Then we can all say done squoze.
gold been rising.. gas been going up.. market been going up... fed been printing moey for 4 years now....... nothing has changed.... just buy
The Federal Reserve boosted Americans' borrowing costs for the 16th time in a row on Wednesday -- this time to the highest level in five years -- but suggested what happens next will be much less predictable. No breakout, no volatility, no nothing... One of the weakest FOMC trading sessions in a looong time.... So what. Well complacency for one and lack of selling two. It takes volume selling or buying to move the markets and all we have here is the dow moving up into resistance and pulling the broad market higher. Poor breadth with a narrow index only leading the way doesn't a bull market make. So we have an intact bull but weak, very weak. When people begin selling in earnest we'll all know it and given the climate it will probably be sustained for a decent correction. JMHO
Classic rolling sell-off. Sellers started early but on light volume and as each level was met new sellers entered with the end result of a trend day down. Way overdue. Now for the up and down as we rollover. A top maybe in for awhile we'll see. Today' selling was steady with breadth at -2000. Volume still light to moderate though which would indicate their are more sellers that haven't bought into the possibility of a top in place. We are back in a range. Interesting.....
Ummmm let's see, not only did the drunken partygoers drive home but like Mr. Kennedy I believe they were involved in a single car accident.