It opened down, and worked its way back all day, to close up. It’s showing some strength, but it’s struggling mightily, and time’s running out for it confirm with a move up on big volume. It might be getting to a place where it will falter and fall back for a bit. That remains to be seen, of course.
I’ve got 22 dandies! You should knew ’em by heart by now! NKE, HRL, JKHY, ROST, TJX, HD, EFX, SBUX, NOC, STZ, TSCO, EL, AOS, UNH, FDS, LOW, SYK, RAI, LMT, COST, CVS and NDAQ.
There’s fine technical price strength with: JKHY, TJX, HD, EFX, NOC, TSCO, AOS, UNH, LOW SYK and COST.
See how many closed at new highs? EFX, UNH and LOW, not bad!
By means of all of my technical measures of market risk, my perception is that market risk is now high, and I would not look to be a buyer as this juncture, but would want to wait for a more advantageous opportunity.
More Friday morning, if there’s any call for it…
6:00 am EST. Markets everywhere look to be up some, but our own futures are mixed… no doubt waiting for the latest unemployment claims report at 8:30. It’s very close to breaking out, or retreating from here. I may need to wait until after its release to learn which direction.
Here’s to your successful investing!
Harold F Crowell