Well ... does today really surprise you. It is going to be interesting to see which way the market breaks out from here. We are well into our 4th week of the market moving sideways. I believe the market is going to do something that you lest expect at the most vulnerable time for you. As my dad would always tell me and still does to this day ... "those bunch of guys (actually he would use another word for guys) on Wall Street will catch you with your pants down around your ankles when you lest expect it". That is true ... they will. I still believe we are going to get some kind of correction here ... I just don't know how deep it is going to be. The volume today was lower than yesterday for the Dow. Also, there was an inflow of cash for the DJ US Total Market of just under $1.4 billion with the Financial sector leading the way with the largest inflow. We also had a 75% up volume today.
I am leaving you with a chart of the percentage of NYSE stocks over their 200 moving average. It is around 52% ... what is interesting is that the last few weeks this amount has been increasing while the percentage of stocks over there 50 moving average on the NYSE has been declining. This shows that the market has had some strength here for the month of May. I just can't wait to see what the market is going to deliver for us on Friday ... earlier this evening the futures prices for the front contracts for the indexes were down.
Well ... does today really surprise you. It is going to be interesting to see which way the market breaks out from here. We are well into our 4th week of the market moving sideways. I believe the market is going to do something that you lest expect at the most vulnerable time for you. As my dad would always tell me and still does to this day ... "those bunch of guys (actually he would use another word for guys) on Wall Street will catch you with your pants down around your ankles when you lest expect it". That is true ... they will. I still believe we are going to get some kind of correction here ... I just don't know how deep it is going to be. The volume today was lower than yesterday for the Dow. Also, there was an inflow of cash for the DJ US Total Market of just under $1.4 billion with the Financial sector leading the way with the largest inflow. We also had a 75% up volume today.
I am leaving you with a chart of the percentage of NYSE stocks over their 200 moving average. It is around 52% ... what is interesting is that the last few weeks this amount has been increasing while the percentage of stocks over there 50 moving average on the NYSE has been declining. This shows that the market has had some strength here for the month of May. I just can't wait to see what the market is going to deliver for us on Friday ... earlier this evening the futures prices for the front contracts for the indexes were down.
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