Sunday, March 29, 2015

TAPE may find buying support.......

S&P 500 is @ the same level as it was back in 3rd week of November, so we have a basing pattern for almost 4 months, as it is commonly know that "longer the base, higher it goes"...

Dow & S&P 500 are both below 50 DMA.....

Nasdaq is above 50 DMA......

CMF is almost positive now......

Yemen is the latest "monkey wrench" to spill uncertainty on Wall Street......

Chinese economy is heading towards slowest growth in 10+ years

European economy is finding footing and growing slowly....

US economy is maintaining its moderate growth.....

Jobs growth is maintaining a healthy 250K+ range in US....

Canada, Australia, OPEC and Brazil economies are in trouble with low low Oil prices.

It is a very mixed picture when you look @ world economies.....

No wonder US stock market has done nothing for 4 months.....

Because of the above, US stock market may be resting for a while until Q4......

We have a window of seasonal strength for about 5 weeks..after that all bets are off as "sell in May " may be the worst in a while........

SO ....trading this market has some juice left until end of April....try to capitalize on this favorable environment...and then WATCH OUT.....

This is a 4 day week as we are closed for "Good Friday" in US & Canada......

Hopefully, this week and April will favor bullish TAPE......

BLOG does NOT give buy or sell.

Saleem

2 comments:

stocktrader_1996 said...

Hi Saleem,

It's a bit strange how we keep getting these 200+ pt up days and every other day is lackluster.

Last week was a -3.12% for the portfolio on the back of a +2.84% the previous week. The portfolio is now +4.99% for the year vs the S&P's +0.10% (neither including today's action). A great performance by AAL & FB during my vacation week was erased by big declines in NXPI & AAL last week.

I am fully invested with good diversification among sectors (I hope!). Portfolio is: SPLK FB GM AAL C ETN CF HUN TASR AEMD, with SPLK and FB almost double overweights due to what I expect will be positive chatter ahead of their quarters.

It is difficult to predict what will happen these days, but I don't expect much action after today as people square positions ahead of a jobs report on a market holiday Friday.

Good luck to all in this volatile market! :)

Stocktrader

Stocks100 said...

Hi Stocktrader,

Beating S&P 500 is a great accomplishment in this TAPE.

Good luck with your fully invested portfolio.

Saleem