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.
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.
broad despite remains sentiment trader
Despite yesterday's broad advance, trader sentiment remains sober.
began investors rally remain skeptical
Investors remain skeptical of the rally that began in April. Therefore, the rally could restart.
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?
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,