When support levels get broken, they become overhead resistance at the time markets attempt to reverse course and rally again. Such was the case yesterday, when an initial rebound died around the 1,040 resistance number for the S&P; 500. It was downhill for the rest of the day, but a pop towards during the last 30 minutes of trading moved …
Where’s The Support?
With the S&P; 500 support level of 1,040 having been decisively broken, the question some readers had is: Where is new support coming in as we enter bear market territory? Miynanville tried to shed some light on that question in “Why We Should Be Talking About S&P; 840:” With the magical 1040 level being tested in the S&P; 500, many …
Happy 4th of July Weekend!
I will be out all day and won’t have a chance to post. However, I will be back in the morning when regular posting will resume.
Sunday Musings: Deflation And Double Dip Recession
Reader Rick emailed the following question: I have been reading several blogs and newsletters that are stating that the US may be looking at a Double Dip recession later this year but even more so in 2011. What is your take on this possibility? Also, I am seeing more and more mention of deflation without much being said about where …
Deadly Bottom Fishing
Some readers like to look at fundamentals as a primary decision tool to add a position to their portfolio. Just because fundamental data seem to paint a rosy picture about a certain sector being ready to explode, does not mean that I will. Never ever have the famous words “it can’t go any lower” rung truer as in the case …
No Load Fund/ETF Tracker updated through 7/1/2010
My latest No Load Fund/ETF Tracker has been posted at: http://www.successful-investment.com/newsletter-archive.php The bears ruled, and the major indexes lost 5-7% for the week . Our Trend Tracking Index (TTI) for domestic funds/ETFs barely slipped below its trend line (red) by -0.40% (last week +1.19%). For more on how to handle this, please see the above link. The international index has …