STOCKS COULD TRADE MUCH HIGHER
(Ciovacco Capital Management)
This is a long audio with a lot
of detailed analysis and charts. It was well worth the time. Bottom line: He suggests that consolidations, such as the DotCom and Financial Crashes, have been followed by long periods of strong
returns. We could be in for years of further positive market returns. Interesting!
Charts and audio at…
My short post on the NTSM
indicators follows. (I return to full analysis in late November.)
We have had computer problems
here. That issue and time constraints have made it impossible to keep up with
momentum analysis, although I am sure that Apple remains the number one stock
in the Dow. I’ll re-build that database when I have time.
WEDNESDAY’S DATA
My daily sum of 20 Indicators improved
from +4 to +5 (a positive number is bullish; negatives are bearish) while the
10-day smoothed sum that negates the daily fluctuations slipped from +51
to +50. (These numbers sometimes change after I post the blog based on data
that comes in late.) A reminder: Most of these indicators are short-term.
The Intermediate/Long-Term
indicators are bullish. The rapidly falling VIX is bullish and that is driving
the long—term indicator.
The short-term Market Internals
indicator is HOLD as it has been for the last 4 days. Previously it had been
bullish.
RSI is bearish; Bollinger Bands
are not yet negative, but they are very elevated, so we may be in for a pause
of some kind.
I remain bullish.
