Sentiment, as shown by the CBOE put call ratio is getting to the point (arrow) where there could be some sort of reaction. When the 5 day m.a. gets to the .75 region, we frequently see a multi session decline.
Ed Note: the full comment below for the chart above from The Daily Todd Market Forecast.
In the early going, news that the Eurozone reached had still another agreement on Greece caused the Euro to rally and the dollar to drop. Both knee jerk reactions. How many times has this happened in the last 3 months?
Late in the day, the greenback made a bit of a comeback and this caused stocks to give back some of the day’s gains. Still, the Dow achieved another 18 month high and managed to close over 11,000. This isn’t surprising. There Dow tends to be drawn to a big round number like a magnet, but what happens now?
Sentiment, as shown by the CBOE put call ratio is getting to the point (arrow) where there could be some sort of reaction. When the 5 day m.a. gets to the .75 region, we frequently see a multi session decline.
If we do get a drop, it should be used for buying . In our opinion, the stock market still has higher to go over the next several months.
Steve’s postion on:
OTHER MARKETS
We’re on a sell for bonds as of March 24.
We’re on a buy for the dollar and a sell for the Euro as of March 24.
We’re on a buy for gold as of April 7.
We’re on a buy for silver as of April 1.
We’re on a buy for Copper as of Feb. 11.
We’re on a buy for crude oil as of April 1.
We are long term bullish for all major world markets, including those of the U.S., Britain, Canada, Germany, France and Japan.
Ed Note: William Shakespeare’s To be, or not to be from Hamlet can read HERE
TODD MARKET FORECAST (ranked #1 by Timers Digest – details HERE)
We provide daily commentary via e-mail for the stock market, gold, oil, bonds, currencies and stock index futures. We also publish a monthly newsletter. Service Fees are $200 per year or $60 per quarter. Subscribe HERE
Our approach is mainly technical in nature. We pay attention to chart patterns, volume, overbought – oversold indicators and market sentiment. However, consideration is also given to fundamentals such as interest rates, Fed policy, earnings and the economy.
We have two main approaches. First we seek to provide specific entry and exit points for conservative investors who utilize mutual funds and ETFs. We also give precise instructions for short term traders who utilize ETFs, Options and stock index futures.
Stephen Todd – A Short Biography
Since 1984, the editor and publisher of the Todd Market Forecast, a monthly newsletter with emphasis on the stock market, but also with sections about gold, oil, currencies and bonds.
Steve spent a number of years as an engineer in a steel mill before becoming a stock broker with a number of Firms, including E.F. Hutton, Bache and Paine Webber.
He has published articles on the economy and the stock market in the following publications: Barron’s, Stock Market Magazine, Futures Magazine, The National Educator and others.
His stock market commentary is heard on CNBC, Bloomberg, Associated Press Radio, Business Radio Network, CKNW in Vancouver, British Columbia, KFWB, Los Angeles and ROBTV in Toronto, Ontario.
TODD MARKET FORECAST (ranked #1 by Timers Digest – details HERE)
We provide daily commentary via e-mail for the stock market, gold, oil, bonds, currencies and stock index futures. We also publish a monthly newsletter. Service Fees are $200 per year or $60 per quarter. Subscribe HERE
Our approach is mainly technical in nature. We pay attention to chart patterns, volume, overbought – oversold indicators and market sentiment. However, consideration is also given to fundamentals such as interest rates, Fed policy, earnings and the economy.
We have two main approaches. First we seek to provide specific entry and exit points for conservative investors who utilize mutual funds and ETFs. We also give precise instructions for short term traders who utilize ETFs, Options and stock index futures.
Stephen Todd – A Short Biography
Since 1984, the editor and publisher of the Todd Market Forecast, a monthly newsletter with emphasis on the stock market, but also with sections about gold, oil, currencies and bonds.
Steve spent a number of years as an engineer in a steel mill before becoming a stock broker with a number of Firms, including E.F. Hutton, Bache and Paine Webber.
He has published articles on the economy and the stock market in the following publications: Barron’s, Stock Market Magazine, Futures Magazine, The National Educator and others.
His stock market commentary is heard on CNBC, Bloomberg, Associated Press Radio, Business Radio Network, CKNW in Vancouver, British Columbia, KFWB, Los Angeles and ROBTV in Toronto, Ontario.