• Apr 04, 2019

    Multi-month Period of Consolidation Ahead

    Heading into Q2, equity markets are likely moving into the early stages of a multi-month period of consolidation. This could be due to intermediate-term/weekly indicators, tracking 1-2 quarter shifts, moving toward overbought levels, similar to what developed in the early stages of the cycle lows in Q2 2016.
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  • Apr 04, 2019

    Market Overbought, But No Sell-Off in Sight

    The market is bouncing off resistance and is overbought like we have been writing about. However, overbought is a good thing in this case as we do not see a major sell-off happening, just normal back and forth as the market builds up enough steam to break out of this area of resistance.
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  • Apr 04, 2019

    Modest Period of Consolidation Expected

    The S&P 500 is overbought and a pullback is warranted, but with that said, rather than a big pullback, we are expecting a modest period of consolidation. After the 19% waterfall selloff last year, the market has been set-up with good odds to move much higher over the next 12 months.
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  • Apr 04, 2019

    Continue To Build On Gains

    The Dow Industrials and S&P 500 are building on their gains after rising above their 200-day averages. The Nasdaq Composite Index is in the process of testing its 200-day average and its December high at 7486. A close above both barriers would be a positive sign for the Nasdaq and would strengthen the market's uptrend.
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  • Apr 04, 2019

    Optimism is Close to Its Historical Average

    Even with this week’s big rise, optimism is close to its historical average. While the rebound in stock prices is encouraging to some individual investors, others have concerns about its sustainability. Many individual investors are monitoring trade negotiations.
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  • Apr 04, 2019

    Strong Year Ahead Despite Overbought Markets

    The markets are still overbought, even with the large sell off and rebound in December, and a pull is warranted to reset the run up. If history is any indication, we expect the market to have quite a strong year. Pull backs are normal and inevitable.
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  • Apr 04, 2019

    Markets Are Overbought

    The markets are still overbought. They have been trading sideways for almost the last two weeks. We do expect the market to pull back, not a significant pullback but a few points. Everyone is waiting to see if the market is going to retest the lows set in December, and only time will tell. Patience is critical at this point.
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  • Apr 04, 2019

    Waiting for a Signal From the HCM-Buyline®

    The market is overbought and is stalling at the 2650 area on the S&P 500, which has a lot of overhead resistance. Look for the market to trade sideways to down for a bit of time as it tries to move higher. We are still holding a lot of cash and will wait until we have a new signal to buy from the HCM-Buyline®.
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