Saturday, June 17, 8:18 am EST. The stock market would appear to be engaged in a sideways consolidation at this time. What makes this so interesting, is that risk is being wrung out, and the opportunity for another rally to erupt, is what would look to be taking place. The market will not go down. For every seller, here around these most recent all-time highs, there are buyers gobbling up those shares! This is a sign of enormous stock market strength… so far.
I’ve updated the timer, and I can ‘see’ the risk coming out, as the technical measures of risk decline, while the market goes sideways. This is going to be interesting. If the market should take off again, from these higher levels, as measured by the Dow and the 500; watch to see if the beat up techs that have been sold off hard since Thursday, the 8th, also begin to strongly recover. IF you see that action taking place, buy it! If you’ve wanted those tech stocks, buy them. If you’ve cash to buy more shares of our safe-dividend growers, as I do… buy them!
What I think I see is risk coming out of stocks, while they go sideways, and I see risk coming out of the precious metals sector; all at the same time. Further, the indications would appear to be that these might culminate in another new opportunity to enter as early as some day within next week, and maybe closer to the end of next week, than the beginning. In any case, I’ll be updating daily, and watching closely… to see if we’ll drop, or if risk gets to that place, while prices remain high, that a new, and surprising ‘nother rally, should take off!
I’ll be away next week, but there’s wi-fi where I’m going, and I’ll have working laptops along. Also, perhaps before this weekend is gone, I’ll run my search again, and post the results, as this would be my preliminary ‘shopping list’, as I begin to prepare for what may be coming in as little as maybe one week’s time. May God bless you all!