Ken Tower
Ken Tower
concerned economy faster fed fueled growing hope investors nearly rally recent stock
The recent stock rally was fueled by the idea that the Fed is nearly done and I am concerned that such a hope could be in trouble. If the economy is growing faster than investors are expecting, that could be a problem.
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.
awful confirm good rally stocks strength
At this point, any rally is a good rally. You need to see more strength in the Nasdaq to confirm that there really was a significant bottom, but there are an awful lot of stocks doing very well.
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.
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.
began investors rally remain skeptical
Investors remain skeptical of the rally that began in April. Therefore, the rally could restart.
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.
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.
hearings impact investor people rally
These hearings have an impact on investor psychology, they make people nervous, and that's why we're having a rally at the close.
break expect experience market narrow range remain trading trapped
In my experience the market doesn't remain trapped in that kind of narrow trading range for long. So expect the market to break out. But which way?
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.
almost cycle moving spending stocks universal
There's this almost universal sense that we're in this big cap-ex spending cycle and the big stocks should be moving on that, but they haven't been.
compelling correction investors likely money month move reason sidelines traders
The correction is likely to go on for another month or two, ... before there's really a compelling reason for investors and traders to move more money from the sidelines into the markets.
above broad low ready sector stay stocks technology turn week
If (Microsoft) can stay above 80, then the whole broad sector of technology stocks may have bottomed out this week and had a re-test low and be ready to turn higher.