Ian Woodward's Investing BlogStock Market: Happy Memorial Day!
My good friend Bob Meagher helped me put this Blog Note together with wishes to you all for a Happy Memorial Day!
The Major Market Indexes which are long in the tooth hit new highs this week and are now pausing to refresh:
The Canaries have found support and are pausing to refresh:
The S&P 1500 is pausing to refresh after jumping up into New High Territory this past week:
The Twelve Drummers need to breakout this week or we pullback before hopefully going up again:
With luck, a fresh rally is on the way and we should expect the Accumulation vs. Distribution Ratio to drive the NASDAQ higher:
%B x BW is still out of sync with %B, but with one more powerful move to the upside we should see things improving:
Although I am sure I am “Carrying Coals to Newcastle” as my English friends would say, I have to remind us that this Rally is very long in the tooth and a correction is overdue.
We have had a 44 Month run with a 90% gain so no wonder we are all biting our fingernails and wondering when the big dipper is coming:
…And finally, here are the Near Term High and Low Targets…let’s keep our fingers crossed that we hit 5200!
With best regards,
Ian.
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