Best September in 70 years for the market! This followed a very weak August and the volatility continues. There have been 29 90% volume days since April 2010 (4 up recently)
It has been pointed out that you don't historically make bull market tops with advance decline lines also reaching new highs. But near term caution should be warranted coming into October with many divergences in place.
None of this may make any sense to you, as most of the fundamental data does not point to what the stock market is suggesting, IMHO ....maybe more so than at any other time I can recall.
Are new highs awaiting this rally down the road? My gut says NO. But there has been NO selling pressure rising to make me think sellers are ready to take control again....in resumption of the bear market.
The trading range for the S&P 500 is still 1040 at bottom and 1150 at top, in times of uncertainty and obvious market manipulation, where not much else makes sense, all we can do is observe market ACTION and try to plot course for the market based on what IS happening VS. what we THINK should happen.
D
It has been pointed out that you don't historically make bull market tops with advance decline lines also reaching new highs. But near term caution should be warranted coming into October with many divergences in place.
None of this may make any sense to you, as most of the fundamental data does not point to what the stock market is suggesting, IMHO ....maybe more so than at any other time I can recall.
Are new highs awaiting this rally down the road? My gut says NO. But there has been NO selling pressure rising to make me think sellers are ready to take control again....in resumption of the bear market.
The trading range for the S&P 500 is still 1040 at bottom and 1150 at top, in times of uncertainty and obvious market manipulation, where not much else makes sense, all we can do is observe market ACTION and try to plot course for the market based on what IS happening VS. what we THINK should happen.
D
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