The Todd Market Forecast

Posted by Stephen Todd: The Todd Market Forecast

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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.

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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.