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 email@example.com.
Leave a Reply