Rok-n-Dan's Market and Sector Analysis with Fidelity Select Sector Funds

Dan Caldwell Has Had Over 25 Followers Rank: 33 Followers: 36 Votes: 22 Years Member: 11 Last Update: 23 October 2014, 13:29 Categories: General Market Commentary
Gold / Gold Stocks
Chart Patterns

9/8/14: Market thoughts: Back in March I posted a US Dollar chart (top of p.3) with two different lines of thought reflecting market viewpoints. One line of thought was that with the US becoming more energy independent, the Eurozone coalition falling apart, massive money printing by the BOJ AND a record number of USD bears, that the dollar was poised to move higher in 2014 as the dollar bears got squeezed. The 2nd viewpoint was that the Fed's massive money printing experiment was falling apart, housing and retail, both mainstays of the US economy were in decline, and that the US dollar would retest previous lows. It now appears that the USDollar bulls have won this battle, and the dollar is poised to move even higher.

In the markets in general we have heavy insider selling at all levels, G. Soros has placed a $2 billion short bet on the US market, and even though the S&P500 and DJIA keep hitting new highs the Russell Small Cap, which is a market leader, isn't participating in the rally, causing market bulls some concern. Also, less and less Americans are buying homes, meaning no consumer spending on household improvements and furnishings. And the retail sector is slowing down as we head into the Christmas season, when it should be picking up.

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$SPX - S&P 500 Fibonachi

00 Bonds (TLT) vs S&P500

00 CBOE Options Equity Put/Call Ratio ($CPCE)

00 NYSE Percent of Stocks Above 50 Day Moving Average

00 Russell 2000 2x UltraShort (TWM) Daily

000 UltraShort Russell 2000 Fund (TWM) Weekly

0000 NYSE Bullish Percent Index ($BPNYA)

6/24/11 NEW CHART. The Bullish Percents (BP's) are flashing oversold signals but have not yet made the turn, so holding cash is still the prefered option. Agressive traders who have been short may want to take some profits off the table. As Q2 window dressing winds down next week I expect hedge, pension, and mutual funds to take profits and reverse positions heading into the start of Q3.

00000 10 yr. Wilshire 5000 Composite Index

00000 Financials Select Sector SPDR (XLF)

00000 Market Vectors Retail/S&P 500 SPDRs (RTH:SPY)

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