Phantom Demand

The next bull market in stocks will not be based on the rising oil and weak dollar that prevailed yesterday.  Phantom demand and its attendant measurement, phantom value, are a function of Hedge Funds and funny money looking for holes they can fill on a short-term basis.  When looking at markets from a macro basis a lot of these moves occur within the big picture.

At the moment the S&P 500 up resistance level is now in the 1140 area and the timing date 8/10/10 that we have talked about as being a bottom is now being pushed into a top formation date and a wide 860 to 1140 trading range will unfold in my opinion.

With the fact that no big bull or bear markets are being contemplated we are looking into offering a paid service using our inhouse computer programs that we employ on some 50 ETF’s.  These programs focus on what I would term midrange market moves around 25 days in length.  If you have interest you may email us and indicate such at intrscop@mc.net

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