The Safe Investing Blog

REVIEW

Another good week for stocks. The third week in a row the market has gained about 1%. The market displayed some choppiness early in the week, dealing with the OEW 1929 pivot. But then cleared it on Thursday, as it made new all time highs every day again except Tuesday. For the week the SPX/DOW gained 1.25%, the NDX/NAZ gained 1.75% and the DJ World index gained 1.35%. Economic reports for the week were mixed. On the uptick: ISM manufacturing/services, construction spending, factory orders, auto sales and consumer credit. On the downtick: the ADP, monthly payrolls, investor sentiment, the M1-multiplier, the WLEI, plus weekly jobless claims and the trade balance worsened. Next week we get reports on Retail sales, Export/Import prices and the PPI.

LONG TERM: bull market

The bull market of March 2009 continues. As this market enters its 63rd month it looks nothing like the 60 month, 2002-2007 bull market…

REVIEW

For a four day trading week the market did fairly well. It opened at new all time highs on Tuesday. Then made higher highs, with small pullbacks along the way, every day this week. For the week the SPX/DOW were +0.95%, the NDX/NAZ were +1.50%, and the DJ World gained 0.75%. On the economic front reports continue to come in higher. On the uptick: durable goods, FHFA housing, consumer confidence/sentiment, pending home sales, personal income, the PCE, Chicago PMI, the WLEI, the monetary base, and weekly jobless claims improved. On the downtick: personal spending, Case-Shiller and Q1 GDP. Next week we get the ISM indices, monthly Payrolls and the FED’s Beige book.

LONG TERM: bull market

We are now 62 months from the March 2009 bear market low, and this market is still making new all time highs. During this period the SPX has gained 188%. Quite impressive. Despite…