Ken Tower
Ken Tower
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.
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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.
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,
bulls dead expect good key market rise seeing
Today's rise is a good sign. What we're seeing is that the bulls are not dead and the market had bounced off key short-term lows, which is what you would expect from an uptrend.
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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.
fully hold lower lows market move sign strong turnaround
I'd like to see the market turnaround right here, hold Friday's lows and move higher, ... If we don't hold (the lows) it's a real strong sign that you got to take this market lower to get it fully oversold.
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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.
advance likely market sort takes
More likely is that we'll get some sort of advance that takes the market to new highs.
bulls market pushing
I feel that it's very important here for the bulls to show that they can keep pushing this market forward.
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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.
again looking low market rally sell test thinking
We're thinking that yesterday's rally will probably go back down and test the low today... So, this afternoon, we're looking again probably for the market to sell off.
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Finally, the market got a reaction after that water torture of a decline in July. People reacted, which is very good in terms of looking for a bottom.
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This proved the spark to push the market higher. It was great news.
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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.