Stocks today

I just wanted to post a quick note that the stock market is giving us a very bullish signal – so far today. First, yesterday’s low did not drop below a level of support that would be consistent with this bull market trend that started in March of last year. Second, today’s price history on the S&P 500 is creating what we call a “Spinning Top” candle formation. This is a very bullish turnaround formation. We saw a similar formation in both June and October of last year when the market bottomed at the support line as well. While one day does not make a (new) trend, I would not sell holdings today. Aggressive investors might be buyers if you have cash on the sideline. More prudent action would be to give the market a couple more days to discern its direction.

 For more information feel free to give me a call – 937-434-1790, or drop me an email  – bill@401advisor.com.

Advertisements

bill@401advisor.com • 937.434.1790

Enter your email address to subscribe to this blog and receive notifications of new posts by email.

Join 441 other followers

Follow me on Twitter

on Amazon

Link to my weekly column.

Charles H. Dow Award Winner 2008. The papers honored with this award have represented the richness and depth of technical analysis.

Archives


%d bloggers like this: