Sunday, March 30, 2014

Mar 31, 2014 - weekly outlook

Appears we should have 1 maybe 2 more days of churning in the lower half of the recent sideways channel and then we begin the advance for the first half of April.  I suspect the SnP500 will make new highs, but watch the NAZ and R2k to see if the  total market has topped (I suspect it may have, but funds and traders are trying to push the SnP500 higher).  By mid April we should see how profits are playing out.  Estimates have been cut enough that profits should meet lowered expectations and if that is all they do the market should correct (I suspect by May).

Here is the coming week (down 1% or so early in the week, but close the week 1% or so higher) in visual form:

GL traders



  1. SnP 500 moved to new high territory faster than I expected....

  2. But your NAZ is the tell right now......baBOOM

  3. Right - Naz, and R2k are tells. Trans are a secondary tell.