Ken Tower
Ken Tower
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.
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.
market order people
Paradoxically you need people to be more discouraged in order for there to be a market bottom.
clear move sending signal wants
I think the market's sending a very clear signal that it wants to move higher,
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.
good jones money people spend spending
Liz Claiborne is one; Tommy Hilfiger is another; Jones New York. There are a lot of them that look good now, ... People aren't going to spend their money on some things, but they're spending it on others.
longer next optimistic term
Longer term I'm bearish, but I'm pretty optimistic for next week.
clear cloudy direction either evidence market naughty nice picture short sit technical tempted wait whether
With the technical picture so cloudy you may be tempted to sit this one out and wait for clear evidence of whether market direction is naughty or nice before initiating either long or short positions.
companies correction earnings good investors move seen
When the companies actually come in with their earnings announcements, we're going to move a lot higher. I think when investors look through the rubble after the correction we've seen they are going to find some real good values.
armor crude maybe oil
Maybe that is the first chink in the armor of the uptrend of crude oil prices,
attitude employment fed investors means near next perhaps recent report thinking
I think there is a wait-and-see attitude about next week's Fed meeting. Investors are thinking that perhaps the recent weaker-than-expected employment report means that the Fed is near the end of its rate-hiking cycle, but I don't think that's the case.
concerned cooling fed inflation interest market pause question raising rates strong struggling today tries whether work
I think the question the market is struggling with is whether we are concerned about inflation and too strong an economy, or if the Fed is raising interest rates too much and cooling things off. So we have a little pause in the market today as it tries to work this question out.