Saturday, February 7, 2015

Market Goes Oingo Boingo

The Market Trend Model (http://bitly.com/M_Trend_Model) moved to a positive bias on Wednesday as the market bounced sharply from the depths of what appeared to be the beginning of a significant downturn just one week ago.  Despite a distribution day on Friday, the major indexes closed at or above their respective 10-week moving averages with weekly volume expanding on the Nasdaq and the Russell 2000.

It appears money wants to find its way into U.S. stocks as interest rates remain at historic lows, currency wars rage around the globe, and ECB QE Infinity pumps money into European banks.  At the moment the stock market is "oingo boingo"...let's see if there is follow through next week or if the stock market becomes a game of "whack-a-mole".