Friday, April 26, 2013

The Daily Note - $DJIA $SPX $NDX Need a Brake ?

***** Or a break, with most watched earnings now behind us we may all need one. Earnings reprts created some volatility and the flash crash did not help, but seems that despite it all and lukewarm outlook for next quarter, the market pressed on. In my opinion it will press on as long as everyone believes that the lower outlook and missed revenues, and low growth expectations have already been braked in these markets.

On the other hand, when I look at the weekly charts, all I see is a relentless push upward since about October 2012  with only a couple of weeks for a brake (no pun) before continued enthusiasm. So where exactly is it accounted for? May I remind you that May is coming and what happens in May we may wish to take into consideration before it all goes away.

Of course, it may also be that it is I who needs to brake and take a break from it all. After all it's been a year since my last one.

Give Me A Break (Man) (1963) by Bo Diddley on Grooveshark

Happy Trading, Living and Dancing

The Daily Pick - $DJIA $NDX $SPX

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