Todd Market Forecast abbreviated update for Thursday February 13, 2014
Available Mon- Friday after 6:00 P.M. Eastern, 3:00 Pacific.
DOW + 64 on 1350 net advances
NASDAQ COMP + 39 on 1000 net advances
SHORT TERM TREND Bearish
INTERMEDIATE TERM TREND Bullish
Editor’s note. This is a partial update because of travel. We’ll make up the numbers on Friday’s update.
We were surprised by the rally on Thursday. Markets around the World were sharply lower coming into the session and the Dow was lower by 100 points, but only for the first five minutes. It then turned and rallied for the remainder of the session.
We believe that we are vulnerable to some sort of decline, but it needs to start soon or that opinion will be off the table.
Our trading accounts are all in cash. Stay that way on Friday.
Ed Note: Usually he puts up an S&P 500 Chart so here’s one from Feb 13th: