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本帖最後由 sickcat11 於 2012-6-15 06:59 編輯
Stocks advanced Thursday as two indexes continued to find support at recent battleground areas.
The Nasdaq took the smallest step, rising 0.6%. The S&P 500 and the NYSE composite gained 1.1% and 1%, respectively. The IBD 50 added 0.7%.
Volume rose on both major exchanges.
The S&P 500 appears to have established support above the 1300 area after knifing above it on June6. The Nasdaq has done the same around the 2800 area.
The Nasdaq faces short-term resistance around 2880 and the S&P 500 at 1335. Another key test for these two indexes might occur at their 50-day lines.
The NYSE composite, however, remains stuck under its 200-day moving average. It is the only major index below that line.
With the market in a correction and few breakouts working, there's no reason to jump into this market.
Thursday was the 29th session in a row that the Market Pulse has carried the correction tag. This is the longest the Market Pulse has been in such a zone in about four years. In May-July 2008, during the bear market, the label stuck for 47 sessions (except for a one-day head fake that was quickly reversed).
A humble stance is the best approach to any market. You don't need to harbor any big-mouth opinions on whether this correction has much further to go, or whether a new uptrend is imminent. Stay mentally alert and flexible, and let the market itself guide your response.
The indexes notched lows on June 4 and have risen since then. If one or more indexes were to confirm a new uptrend is under way, it would make sense to buy fundamentally strong stocks on heavy-volume breakouts.
Until that happens, cash is the best place to be.
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在線雷達
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