Ken Tower
Ken Tower
markets strong tendency time tricky
This is a really tricky time for investors, because there is such a strong seasonal tendency for markets to struggle.
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.
broad despite remains sentiment trader
Despite yesterday's broad advance, trader sentiment remains sober.
chairman excuse fed investors nervous offers unknown
A new Fed chairman is an unknown and as such offers nervous investors an excuse to sell.
alive bull far market
As far as we can tell, the bull market is alive and well.
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.
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.
great market proved push spark
This proved the spark to push the market higher. It was great news.
break expect experience market narrow range remain trading trapped
In my experience the market doesn't remain trapped in that kind of narrow trading range for long. So expect the market to break out. But which way?
august averages coming downside larger late leadership left low major presumably sign support trading
I'm left with the sense that this is a trading-range market, not a larger decline. The major averages are now coming down to their late August lows, which are presumably the low end of this trading range. There wasn't any real sign of a reversal yesterday, but support is nearby and downside leadership is poor.
above broad low ready sector stay stocks technology turn week
If (Microsoft) can stay above 80, then the whole broad sector of technology stocks may have bottomed out this week and had a re-test low and be ready to turn higher.
drop market momentum problems pushing unable
If there were really fundamental problems out there, the market would drop much more quickly. Instead, it can't get out of its own way. It's pushing a big boulder up the hill, and then it slides back down at the end of the day. It's just unable to really get any momentum going.
began investors rally remain skeptical
Investors remain skeptical of the rally that began in April. Therefore, the rally could restart.
energy focus ignored interest investors prices rates rising yesterday yield
Investors rejoiced yesterday as energy prices fell, but they ignored rising interest rates. I don't think it will be too long before the focus shifts back to rising rates and an inverted yield curve.