Small gap down open so chances are good that the gap will be filled. I just hope today is not another range day. Just a reminder, oil keeps rising, well, guess it's not a big deal anyway.
Institutional actions from stocktiming.
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Given higher oil, ECB rate increase, there will be some negative sentiment, while better unemployment, retail sales will get bulls in..sounds like a range day..let's see.
Ek
The Banking index is slowly creeping up so is looking better.Institutions were in accumulation yesterday.Liquidity in the Mkt is high.This mkt may just keep creeping up without any major correction until Big Ben gets out of the Mkt.
Financials and REITs are flat on the open while the SPY gaps down, so it's slightly more bullish than bearish, but financials are overbought. We're set up for a trend type move in one direction or the other, and it is a little more likely to be down than up given the volume recently, but it will have to happen today. If the VIX is up huge on this tiny gap down, consider it very bullish.
good morning. it's really unfortunate that oil is rising because the fundamentals don't justify this lofty price. last month gasoline demand was down over 1% ... also the excuse has been weak dollar but today the dollar is rising???
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I won't hope this is a kiss channel goodbye. Instead, I instinctively think that we're going very very high from here.
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REITs are collapsing. Even if the market is firm today, if REITs are down huge today and the market is not, the S&P will collapse probably tomorrow. I've seen it happen before. Pay attention to whether REITs can rally back or if they keep selling off. REITs are a bit oversold though.
stocksage wrote:Market is not going down substantially til late May. Bears hear just keep losing capital.
YES... but we may have a pull back befor going much higher. The NYSI now is about at its max if the negitive div. Holds true as it has for the last 1 1/2 yrs.