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(Tickers: DIA, SPY, QQQQ, NYX, DOG, SDS, QLD, XLF, IWM, TWM, IWD, SDK, ICE)
UPDATED (August 11)
The Greek has invited me back from hiatus on multiple occasions, and so I finally take time to oblige with an important and time-sensitive announcement:
I am writing primarily to warn readers that we are within two-three trading days of a multi-week top in major stock market indices, based on my analysis. We may trade as high as 1050 on the S&P and 9700 on the DOW between now and the middle of this week, though I view it equally likely that we reached the pinnacle in trading on Friday, August 7th. A decisive break below 990 on the S&P would indicate that the top is in. What happens after we reach any near-term top will be the subject of further analysis, but for now it is my opinion that investors should consider taking at least some profit from any recent gains in stocks or commodities. However, should the Federal Reserve abandon its Treasury Purchase Program (read: printing press) en masse, commodities may retain some hedging appeal.
I also write to explain in part the reason for my failure to contribute to this important and informative forum. It is not for lack of interest that I have been absent in commentary; rather, I became so disgusted with our country's political and corporate leadership that I lost sight of any original objectives I may have had in authoring a column. At a time when readers likely need objective analysis of capital markets, my contributions were becoming bitter rants. And while the commentary may have offered a well-aimed counterpoint to the nonsense perpetuated by mainstream financial media, it contained little practical advice of any financial benefit.
Rest assured, I have been and will continue to be an active voice of dissent as I advocate a sound fiscal policy response among the Congressman and Senators from both parties who are supposed to represent the interests of everyday people. However, since it seems that we are not so fairly or competently represented, especially in matters that greatly impact our present and future financial interests, I am resolved to help the community of Wall Street Greek readers with more practical, objective and quantitative analysis of capital markets. I do hope you'll forgive me if I also engage in subjective commentary on occasion as well.
Please look for more analysis in the relatively near future.
Please see our disclosures at the Wall Street Greek website and author bio pages found there.
(Tickers: DIA, SPY, QQQQ, NYX, DOG, SDS, QLD, XLF, IWM, TWM, IWD, SDK, ICE)
UPDATED (August 11)
The Greek has invited me back from hiatus on multiple occasions, and so I finally take time to oblige with an important and time-sensitive announcement:Technicals Show Multi-Week Top
I am writing primarily to warn readers that we are within two-three trading days of a multi-week top in major stock market indices, based on my analysis. We may trade as high as 1050 on the S&P and 9700 on the DOW between now and the middle of this week, though I view it equally likely that we reached the pinnacle in trading on Friday, August 7th. A decisive break below 990 on the S&P would indicate that the top is in. What happens after we reach any near-term top will be the subject of further analysis, but for now it is my opinion that investors should consider taking at least some profit from any recent gains in stocks or commodities. However, should the Federal Reserve abandon its Treasury Purchase Program (read: printing press) en masse, commodities may retain some hedging appeal.
I also write to explain in part the reason for my failure to contribute to this important and informative forum. It is not for lack of interest that I have been absent in commentary; rather, I became so disgusted with our country's political and corporate leadership that I lost sight of any original objectives I may have had in authoring a column. At a time when readers likely need objective analysis of capital markets, my contributions were becoming bitter rants. And while the commentary may have offered a well-aimed counterpoint to the nonsense perpetuated by mainstream financial media, it contained little practical advice of any financial benefit.
Rest assured, I have been and will continue to be an active voice of dissent as I advocate a sound fiscal policy response among the Congressman and Senators from both parties who are supposed to represent the interests of everyday people. However, since it seems that we are not so fairly or competently represented, especially in matters that greatly impact our present and future financial interests, I am resolved to help the community of Wall Street Greek readers with more practical, objective and quantitative analysis of capital markets. I do hope you'll forgive me if I also engage in subjective commentary on occasion as well.
Please look for more analysis in the relatively near future.
Please see our disclosures at the Wall Street Greek website and author bio pages found there.
