Ken Tower
Ken Tower
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.
crash fill greenspan happened market months planet spot sure took
There is no person on the planet who is going to be able to fill Greenspan's spot without a test, ... I'm not sure that it's a coincidence that the market crash of 1987 happened two months after Greenspan took office.
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.
great market proved push spark
This proved the spark to push the market higher. It was great news.
longer next optimistic term
Longer term I'm bearish, but I'm pretty optimistic for next week.
bullish case dependent fed next partly rate rates stopping year
For many, the bullish case for next year is partly dependent on the Fed stopping its rate hiking. But historically, the Fed stopping isn't necessarily bullish for stocks. It's when the Fed lowers rates that it's bullish.
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.
absorb decline fact market negative news overlook positive price steep
The market may not be able to overlook Intel's warning, but the fact that it's able to absorb the negative news without a steep price decline is a positive signal.
balanced below cost employment encourage federal maintain meeting next reserve
Employment cost is below expectations, which should encourage the Federal Reserve at next week's meeting to maintain a balanced approach.
armor crude maybe oil
Maybe that is the first chink in the armor of the uptrend of crude oil prices,
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.