Lines in the Sand
The bulls are back to pressing against the upper end of the short-term trading range and should attempt to close above those lines in the sand. On the Dow, the level is 17975 on a closing basis while it’s 2073 on the S&P 500. Both are just a one day rally away. The S&P 400 already saw all time highs last week while the Russell 2000, long left for dead by the market, has a line in the sand at […]
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Date: February 11, 2015
Bond Market Sending Warning Sign
Tuesday’s stock market rally looked better in the media than in reality. Early strength was sold and there was not much conviction from the buyers. Unless we see the bulls step up and close above Tuesday’s high, stocks look like they need a pause or pullback here. Closing below Dow 15,175 should set off even more selling while closing above 15,550 should entice more buyers back in. I am concerned here that high yield bonds have taken it on the […]
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Date: May 30, 2013
