12:22
Unknown
11 trading days ago on December 24th, 2013 S&P closed @ 1833.32, on January 10th, 2014 low was 1832.43.......
11 trading days may not seem like enough time to build a base for another run...but we are talking runaway bull market where 11 days of sideways trading may be more than enough.
S&P 500 is less than 7 points from making another all time high, this could be achieved on Monday......
Above stat is telling me that vacation & overbought conditions played a role in indices going sideways...
We had one full week of trading after holidays, where new leadership has emerged.
Many frontline stocks are faltering & breaking 10 day, 20 day & 50 day support...which should be noted for preventing further losses.
What we may think about many stocks may not matter when market does not agrees, that is why seasonality & out of favor TAPE action is very obvious.
Now that we are in 2nd full week of trading after holidays, there is plenty of money waiting to be put to work, i am hopeful that we will see a strong outlay of funds into equities.
2014 allocation may chase many stocks which needs to be monitored closely.
I think Gold has turned UP & may see quick move UP in Gold stocks.
Many sectors are behaving well including Solar, Airlines, Techs.....heavy weighting in these will keep portfolios productive.
SO..here we are @ start of third week of 2014 trading, character has changed already.
Good luck with your picks & strategy for 2014.
BLOG does NOT give buy or sell.
Saleem
11 trading days may not seem like enough time to build a base for another run...but we are talking runaway bull market where 11 days of sideways trading may be more than enough.
S&P 500 is less than 7 points from making another all time high, this could be achieved on Monday......
Above stat is telling me that vacation & overbought conditions played a role in indices going sideways...
We had one full week of trading after holidays, where new leadership has emerged.
Many frontline stocks are faltering & breaking 10 day, 20 day & 50 day support...which should be noted for preventing further losses.
What we may think about many stocks may not matter when market does not agrees, that is why seasonality & out of favor TAPE action is very obvious.
Now that we are in 2nd full week of trading after holidays, there is plenty of money waiting to be put to work, i am hopeful that we will see a strong outlay of funds into equities.
2014 allocation may chase many stocks which needs to be monitored closely.
I think Gold has turned UP & may see quick move UP in Gold stocks.
Many sectors are behaving well including Solar, Airlines, Techs.....heavy weighting in these will keep portfolios productive.
SO..here we are @ start of third week of 2014 trading, character has changed already.
Good luck with your picks & strategy for 2014.
BLOG does NOT give buy or sell.
Saleem
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