WEALTHTRACK #1035 originally Broadcast February 21, 2014
Published on Feb 21, 2014
Robert Shiller, recent winner of the Nobel Prize in Economic Sciences, a Yale professor and the co-creator of the Case-Shiller Home Price Indices discusses the importance of psychology in the markets and what it’s telling him now.
Technical Analysis – This weeks summary of market action from Tony at the Elliot Wave Lives On. Medium and short term trends are to the upside, confirming the IBD’s call of a new rally earlier this week.
REVIEW
The market opened the week at SPX 1797, dipped to 1792 early Monday, then rallied with only one notable pullback to 1842 by Friday. And all this occurred during market hours, as the only gap opening on the week was a lower one on Thursday. For the week the SPX/DOW gained 2.3%, the NDX/NAZ gained 2.9%, and the DJ World index rose 2.4%. On the economic front negative reports again outpaced positive ones. On the uptick: wholesale/business inventories, export/import prices and the M1-multiplier. On the downtick: retail sales, industrial production, capacity utilization, the WLEI, plus the budget deficit and weekly jobless claims increased. Next week we get reports on the NY/Philly FED, the CPI/PPI and Housing.
LONG TERM: bull market
The bull market of 2009 is now in its fifth year. Historically five years is just about as old as they get. Since 1929 there have been 13 bull markets, and…
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The 2014 Ducati 1199 Panigale S. Sorry…just drooled on my keyboard a little.
Source:
Ducati 1199 Panigale S
http://www.ducati.com/media_gallery/1199_panigale_s_2013/729724/index.do
Another weekend update from Tony at the Elliot Wave Lives On. Medium and short term trends are to the downside, which dovetails with the market being in a correction per IBD. Keep your powder dry until you see clear signs of institutional buying!
REVIEW
Another wild week volatile week that started off quite choppy to the downside. Then ended with a strong rally to the upside. After closing last week at SPX 1783, the market dropped to 1738 by Wednesday morning. Next it rallied, over the next two days, to end the week at SPX 1797. For the week the SPX/DOW were +0.7%, the NDX/NAZ were +0.8%, and the DJ World index gained 0.7%. Economic reports for the week were slightly to the downside: 7 to 6. On the uptick: construction spending, ISM services, monthly payrolls, consumer credit, plus both the unemployment rate and weekly jobless claims improved. On the downtick: ISM manufacturing, monthly auto sales, factory orders, the ADP index, the WLEI, the monetary base, and the trade deficit worsened. Next week we get a look at Industrial production and Retail sales.
LONG TERM: bull market
We continue to count this bull market as Cycle wave [1] of Super…
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This is a topic that I’ve been struggling with as well. I’ll be taking a look at the potential strategy laid out in this article.
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