Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

Looking for Clues


The SPH returned to familiar ground with close back below the 1150 level and overnight prices are close to filling the gap from Friday's close which is 1144.60. There's a lot of folks looking for a move above 1160 and the chart sure looks inviting.

But, if we're to fail from these levels, the best clue may come from the recent strength. Since the ND made high on Jan 20, the Dow and SP names have been firm. In the chart below, we've highlighted the Dow, the Euro, and the SML. If the dollar's weakness was the Dow's strength, we should wonder if the recent dollar strength will be the Dow's weakness? We're close to the 50 day average and the year's trendline in the Dow. The index's action around those levels will provide valuable insight to the future direction.

< Previous
  • 1
Next >
No positions in stocks mentioned.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

Featured Videos