From our 2/12/09 daily market commentary:
Stocks rebounded modestly yesterday on light volume after Tuesday's big sell-off. There was nothing impressive about it, yet the bears did fail to put the nail in the coffin.
The S&P still looks ready to tumble, but the indicators are mixed. Anything can happen, and this may sound extremely un-analytical and probably unprofessional, but there seems to be "something in the air". I'm not sure what it is but I am staying cautious. It could go either way, but I don't like the "feel" of things right now. The futures are relatively flat as I write this Wednesday night, but I don't think today, or the rest of the week, will be very flat. I'm looking for a big move one way or the other.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
Just a quick follow up on some things we have been following recently:
Gold is up nearly $50 in the last 2-days (something in the air?), while the dollar was also up, but near resistance. How long can they both rally?
Oil dropped another $2 a barrel yesterday, or 5%. It looks ready to break to new lows.
Bonds rallied again yesterday, but closed well off of their highs.
The market "leaders", the Nasdaq and Dow Transports, lagged the S&P 500 yesterday and the Transports were actually down 1.2% yesterday.
You can look back at this week's earlier commentary for more details, if any of this is new to you.
February 11, 2009
February 10, 2009
February 9, 2009
Stocks rebounded modestly yesterday on light volume after Tuesday's big sell-off. There was nothing impressive about it, yet the bears did fail to put the nail in the coffin.
The S&P still looks ready to tumble, but the indicators are mixed. Anything can happen, and this may sound extremely un-analytical and probably unprofessional, but there seems to be "something in the air". I'm not sure what it is but I am staying cautious. It could go either way, but I don't like the "feel" of things right now. The futures are relatively flat as I write this Wednesday night, but I don't think today, or the rest of the week, will be very flat. I'm looking for a big move one way or the other.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
Just a quick follow up on some things we have been following recently:
Gold is up nearly $50 in the last 2-days (something in the air?), while the dollar was also up, but near resistance. How long can they both rally?
Oil dropped another $2 a barrel yesterday, or 5%. It looks ready to break to new lows.
Bonds rallied again yesterday, but closed well off of their highs.
The market "leaders", the Nasdaq and Dow Transports, lagged the S&P 500 yesterday and the Transports were actually down 1.2% yesterday.
You can look back at this week's earlier commentary for more details, if any of this is new to you.
February 11, 2009
February 10, 2009
February 9, 2009
