Ken Tower
Ken Tower
again break crossroads danger major quickly range slide trading unable upside
We are at a major crossroads here. If we are unable to break out of this trading range to the upside soon, then there is a danger that we could quickly slide back down again to the lows.
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?
billion busy coming half knew lower market range shares stuck tight trading volume week
The market has been stuck in a very tight trading range for a month. Yesterday's NYSE volume of just over a billion shares makes me nervous. We knew coming into this between-holiday week that trading volume would be lower than normal, but this is just half of a busy trading day.
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.
last nice
We're set up for a nice little rally, however, how long it can last is unclear.
fed focus inflation investors meeting nervous next searching
You have to be a little nervous about this number. This is going to do nothing but make us focus more on next week's Fed meeting as investors keep searching about inflation clues.
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.
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.
bears game implies lack reaction strong today traders
Today we should get some idea of just how strong the bears are. Yesterday's lack of reaction implies traders don't think the bears have much of a game here.
correction likelihood seeing strong
We had a really strong rally, ... and there's the likelihood of seeing a significant correction through the end of October.
decline good looking market people reaction terms torture water
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.
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.
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.
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.