Back-to-back distribution days after record highs

It was only three trading sessions ago that the DOW hit an all-time high, closing above 17,000.  But then the markets sold off yesterday, and today the indexes closed down significantly in high trade volume.  After the back-to-back distribution days Investor’s Business Daily has changed the market outlook to “uptrend under pressure”. Earnings reports willContinue reading “Back-to-back distribution days after record highs”

Market in UPTREND…but I’m staying out, for now

Today Investor’s Business Daily (IBD) confirmed the market was in an uptrend.  They’ve had the market in correction for about 43 days…something we haven’t seen since the recovery got underway.  This has been a turbulent year, IBD has only had the market in “confirmed uptrend” for about 40 total days all year. I’m not oneContinue reading “Market in UPTREND…but I’m staying out, for now”

Volume matters…that’s why I’m still on the sidelines

No doubt the market has been up the past six trading sessions.  But in this volatile environment I prefer to remain cautious.  I have several concerns about this market, the most elementary being- low trading volume on Up days and high trading volume on Down days . 2014 has been characterized by the majority ofContinue reading “Volume matters…that’s why I’m still on the sidelines”