Ken Tower
Ken Tower
basic clear closed deal energy eventually exchange great high huge leadership lows market rally reached remain shift stock stocks underlying york
Only 10 New York Stock Exchange stocks made new lows yesterday, so it's clear that there is a great deal of underlying market strength. Industrials remain the clear winner, as they reached another new high yesterday. Financials had a huge rally and also closed at a new high. Leadership will eventually shift back to tech, energy and basic materials, but we're not there yet.
bond lead market reason saying smarter stock tends
The presumption is the bond market is smarter than the stock market. I'm not saying it's always true, but there's a reason that the bond market tends to lead the stock market.
bullish continues leading led performance premature press rally relative sector tech
Financials led the sector rally yesterday. Tech has been getting a lot of bullish press recently, but its relative performance continues to suffer. It's premature to put this into the leading sector category.
abandon basic beating early energy friday group industrial leadership reaching seems since stocks surprising tech took
It's not too surprising that tech stocks took a beating on Friday since they have not been a leadership group of late. While tech has been languishing, basic materials, energy and industrial stocks have been reaching new highs. These may be tiring, but it seems too early to abandon them yet.
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.
front happening telling
What's happening in front of us right now is discouraging, but the market's telling us that these will be short-term disruptions.
business cycle slowing
I see the whole business cycle slowing down.
current good historical market next pattern signs suggest trend weakness week
I see no signs of weakness in this market at this moment. The historical pattern and the current market trend suggest to me that next week will be a good week for the market.
bad erased good ibm impact news piece rally sector spark tech
The whole tech sector jumped after the IBM announcement and it may spark a rally tomorrow. But it's one piece of good news. Could the impact be erased by a subsequent piece of bad news between now and tomorrow? Sure.
almost face factor major nervous people trouble
These are things that people can be nervous about and, yes, they're concerns. But let's face it: the world has trouble almost every day. It's probably not a major factor for our market.
breakout continues lots market move quite stocks strong technology
And Wrigley has been very strong for some time, continues to move higher, ... Just had another breakout to a new high. There are lots of stocks in this market that are doing quite well. They just aren't technology stocks.
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.
dismal eye investors july news though
Even though the news has been dismal this week, investors have to keep an eye on the July Lows.
double july market optimistic since
Technically, we've been very optimistic about the market bottoming out right now. Since the July lows, this is a double bottom, so we're still very optimistic,