“NEW YORK (CNNMoney) -- U.S. stocks fell Wednesday after the Federal Reserve issued a dour assessment of the economy but gave no indication that additional stimulus measures are in the works.”
The financial press loves to pretend they know why the market went up or down. I have no clue why the market went down today. (Actually, it is probably a technical reaction to yesterday's statistically significant move up.) I do know this; the market never goes the same direction every day. The fact that the economy has slowed is very old news. Bernanke is disappointed. Who isn’t? Sorry…I think today means nothing. We’ll watch to see if there is any sustained selling. Summer is here so we don’t expect too much from the market, but I think the odds favor more up than down.
NTMS is HOLD Today. Unless we break the 1257 low, I see no need to be concerned.
Since volume analysis called a Buy last week on the Successful test of the prior 1257 correction low, I upped my investment position to 50% invested in stocks overall. If the news gets better, I may up the invested % soon.
