A Bird's-Eye View of the Stock Market
Pick your spots -- and balance your time.
One day, we'll look back at this and it will all seem funny but for now, and despite the headlines, it's anything but, all-time highs notwithstanding.
The Stock Market: Are We There Yet?
In short, the answer is no-at least in terms of the price action. We saw a probe lower yesterday morning-thanks Fletch!-and true to form, or the form since November 16-the tape responded with some upside vigor. You can agree, disagree, or agree to disagree with the "why," "what" or "how," but you cannot ignore what we've seen and yes, continue to see.
In terms of the broader market, you know what I know-that S&P 1580 is the next tradable technical context. We also know-the other way-that any violation of S&P 1525, NDX 2750 and/or BKX 54 would raise a red flag (literally and figuratively). That's the current stair-step, and we're just playing, playing in the band as we sort out this Grand Experiment.
Respect, but don't defer, as we continue to find our way.
This Yahoo Finance video is a real-time example of what hair deflation and weight inflation look like.
View obstacles as opportunities and problems as possibilities; it will change your world.
It's still Mercury Retrograde (ugh; true!) but we should find some relief after March 17.
Technical analysis dictates that the time to buy (sell) a breakout (breakdown) is upon the retest of those levels. In real-time parlance, that's S&P 1525/1530 and NDX 2750/80.
- George Friedman of the always excellent Stratfor Global Intelligence report, offers his thoughts on why social mood matters in Europe.
Wanna hear the most annoying sound in the world?
12 Cognitive Biases That Endanger Investors.
- Remember to breath and keep that chin up; profitability begins within.
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Todd Harrison is the founder and Chief Executive Officer of Minyanville. Prior to his current role, Mr. Harrison was President and head trader at a $400 million dollar New York-based hedge fund. Todd welcomes your comments and/or feedback at email@example.com.
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