
Todd Market Forecast for Tuesday December 31, 2013
Available Mon- Friday after 6:00 P.M. Eastern, 3:00 Pacific.
DOW + 72 on 750 net advances
NASDAQ COMP +22 on 450 net declines
SHORT TERM TREND Bullish
INTERMEDIATE TERM TREND Bullish
STOCKS: Not much to say still again. Very light volume with portfolio adjustments and seasonality the dominant considerations.
We’re looking for more strength into the close on Friday.
GOLD: Gold was up $1. It was down as much as $22 before staging a solid comeback.
CHART: It’s well known that hedge funds, as a group, managed to vastly underperform the market in 2013. As a matter of fact, these “pros” have underperformed for years. To be fair, they were down much less in 2008 than the market averages. But, they charge 2% and also take as much as 20% of the profits.
TORONTO EXCHANGE: Toronto was up 40.
S&P\TSX Venture Comp: The Venture Comp was up 11.
BONDS: Bonds moved down again.
THE REST: The dollar rebounded mildly. Silver and crude oil were lower. Copper managed an up session.
BOTTOM LINE:
Our intermediate term systems are on a buy signal.