Early signs here that the boyz are starting to chase the market up. At 1626, the SPX has
shot up to a 3% premium to its 25 day m/a. The market is at the top end of the six month
trend channel and is on the verge of moving up into a strong short term overbought. It's
worth watching right now because the run ups to the top of the trend channel top
(now 1630) have become progressively more toward the spike than a run along the
ceiling. SPX Daily
Page views at this site tend to rise sharply when the market gets shaky or corrects. Views
fall when a good run up is on. Page views are currently falling like a rock.
- Peter Richardson
- Retired chief investment officer and former NYSE firm partner with 50 plus years experience in field as analyst / economist, portfolio manager / trader, and CIO who has superb track record with multi $billion equities and fixed income portfolios. Advanced degrees, CFA. Having done much professional writing as a young guy, I now have a cryptic style. 40 years down on and around The Street confirms: CAVEAT EMPTOR IN SPADES !!!