Ken Tower
Ken Tower
four months moving people seen stocks value
This is pretty much a continuation of what we've seen for four months now. The value stocks are doing better and people are moving out of technology.
awful confirm good rally stocks strength
At this point, any rally is a good rally. You need to see more strength in the Nasdaq to confirm that there really was a significant bottom, but there are an awful lot of stocks doing very well.
market order people
Paradoxically you need people to be more discouraged in order for there to be a market bottom.
again average below current high key link longer lots major remain stocks support term trends weak yesterday zones
Yesterday's high now become key resistance. Because the longer term trends all remain up, there are lots of support zones below current prices. The big Nasdaq stocks have been the weak link in the rally, as demonstrated again yesterday by being the only major average to fall.
bulls dead expect good key market rise seeing
Today's rise is a good sign. What we're seeing is that the bulls are not dead and the market had bounced off key short-term lows, which is what you would expect from an uptrend.
again break crossroads danger major quickly range slide trading unable upside
We are at a major crossroads here. If we are unable to break out of this trading range to the upside soon, then there is a danger that we could quickly slide back down again to the lows.
attract bulls cash december energy high hooks money provide top trading willing
We are at the top of a trading range. Everyone's willing to be bullish, but is the cash there to provide the energy the bulls need? Or is the December high the high-water mark? Dow 11,000 is one of the hooks the bulls will use to try and attract more money into the market.
again bulls energy led rally stocks technology time
This rally is very fragile, as it is being led once again by energy stocks and not technology or finance. This is no time for the bulls to relax.
last nice
We're set up for a nice little rally, however, how long it can last is unclear.
data economic fed meeting negative piece subdued surprise unless week
Unless we get a negative surprise on a piece of economic data that's really out of the ordinary, then it's going to be a subdued week with the Fed meeting right around the corner.
april areas days glory high last market shooting technology willing
This was one of the last areas of technology that still had the great, glory days of April going for it. The market is just not willing to put up with those high P/Es and is shooting them down one by one.