Monday, April 28, 2014
Struggling to stay afloat for the coming month.
From the last post I gave while I was on a spring break vacation I noted a rally was overdue due to oversold readings. Got a week long rally but then the market turned back down the last several days. The stock market is using the Ukaine crisis as an excuse for most of the selling. The real issue should be that the SP500 has now gone 17+ months since it last touched its 200 day moving average (the longest in the last 25+ years being 19 months in 1996.) So I could see some consolidation or more likely... weakness in the coming month as the SP500 is still about +5% above its 200 DMA.
Monday, April 14, 2014
At very short term oversold again
I'm on vacation right now so this post will be short. Like the last post, I'm looking for a rally here due to very oversold readings for the short term. The stock market didn't quite reach the downside target nor the upside target I was looking for in my last post and the follow-up comment. Maybe this is what I am anticipating from the last post.
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