A quick update of the chart I first presented last June, and in an updated version last August. It is now updated for monthly Dow closes until December 2013 (click for larger image): The correlation with 1920s bull market remains very high, and has actually increased again since the August update. The correlation is now… Continue reading 1920s again
Category: Market Commentary
Refusal to go down
Not a strong start for stocks this year, but so far the downside action is limited and the markets are going mostly sideways. This refusal to go down can be seen as a sign of strength. Or is it the proverbial silence before a storm? Let’s have a look at the S&P 500 (click for… Continue reading Refusal to go down
Key reversal levels for week of January 13, 2014
Key reversal levels for this week: Weekly Current Mode Key (W) MoM (W) Weeks % Ch. Nasdaq 4,174.67 3,834.56 8.16 53 35.14 S&P 500 1,842.37 1,752.02 7.43 58 30.08 Nikkei 15,912.06 14,684.32 7.98 59 68.10 FTSE 100 6,739.90 6,541.16 1.25 2 -0.16 DAX 9,473.24 8,936.79 6.78 26 15.00 Bonds (TLT) 104.41 106.56 -2.83 34 -9.88… Continue reading Key reversal levels for week of January 13, 2014
Disappointing start
Stock markets have started the new year by going down. We already warned last week that the start of 2014 was likely to be disappointing and that appears to be panning out. We are now entering a lunar red period, so I think the weakness in stocks is going to continue a while longer. Here… Continue reading Disappointing start
Key reversal levels for week of January 6, 2014
Key reversal levels for this week: Weekly Current Mode Key (W) MoM (W) Weeks % Ch. Nasdaq 4,131.91 3,817.78 8.19 52 33.75 S&P 500 1,831.37 1,743.93 7.55 57 29.30 Nikkei 16,291.30 14,555.31 8.00 58 72.10 FTSE 100 6,730.70 6,522.84 0.79 1 -0.30 DAX 9,435.15 8,896.79 6.89 25 14.53 Bonds (TLT) 102.17 106.72 -3.10 33 -11.82… Continue reading Key reversal levels for week of January 6, 2014
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