12:22
Unknown
S&P 500 is @ the same level as it was back in 3rd week of November, so we have a basing pattern for almost 4 months, as it is commonly know that "longer the base, higher it goes"...
Dow & S&P 500 are both below 50 DMA.....
Nasdaq is above 50 DMA......
CMF is almost positive now......
Yemen is the latest "monkey wrench" to spill uncertainty on Wall Street......
Chinese economy is heading towards slowest growth in 10+ years
European economy is finding footing and growing slowly....
US economy is maintaining its moderate growth.....
Jobs growth is maintaining a healthy 250K+ range in US....
Canada, Australia, OPEC and Brazil economies are in trouble with low low Oil prices.
It is a very mixed picture when you look @ world economies.....
No wonder US stock market has done nothing for 4 months.....
Because of the above, US stock market may be resting for a while until Q4......
We have a window of seasonal strength for about 5 weeks..after that all bets are off as "sell in May " may be the worst in a while........
SO ....trading this market has some juice left until end of April....try to capitalize on this favorable environment...and then WATCH OUT.....
This is a 4 day week as we are closed for "Good Friday" in US & Canada......
Hopefully, this week and April will favor bullish TAPE......
BLOG does NOT give buy or sell.
Saleem
Dow & S&P 500 are both below 50 DMA.....
Nasdaq is above 50 DMA......
CMF is almost positive now......
Yemen is the latest "monkey wrench" to spill uncertainty on Wall Street......
Chinese economy is heading towards slowest growth in 10+ years
European economy is finding footing and growing slowly....
US economy is maintaining its moderate growth.....
Jobs growth is maintaining a healthy 250K+ range in US....
Canada, Australia, OPEC and Brazil economies are in trouble with low low Oil prices.
It is a very mixed picture when you look @ world economies.....
No wonder US stock market has done nothing for 4 months.....
Because of the above, US stock market may be resting for a while until Q4......
We have a window of seasonal strength for about 5 weeks..after that all bets are off as "sell in May " may be the worst in a while........
SO ....trading this market has some juice left until end of April....try to capitalize on this favorable environment...and then WATCH OUT.....
This is a 4 day week as we are closed for "Good Friday" in US & Canada......
Hopefully, this week and April will favor bullish TAPE......
BLOG does NOT give buy or sell.
Saleem
Posted in: Mixed
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