Friday, November 30, 2012

U.S. Sector Topping Phase

These are some extracts from a recent Getting Technical Market letter

The Equity Markets: Now Range Bound”

“We are now cautions through year-end due to investor confusion over the U.S. fiscal issues. There is also a big contrarian concern due to a broad based belief among too many investors that a period of seasonal strength in the equity markets runs from November through March. Another major concern is the topping momentum phase of many of the Canadian and U.S. sectors – see the sector tables on page 2 and page 3

The TSX Composite could be range bound through Q1 2013.

See chart top left.

Risk Avoiders - LONG TERM new for Q4 of 2012 – we see the U.S. sectors sorted by monthly change at Oct 31, 2012. The expansion of the Stationary Topping sectors suggests a topping phase in the broader indices through Q1 2013.”

Most of these comments are from different pages and so are out of context – but I am sure you get the message


Shawn Severin said...

What's your take on the Apple sell off? Can the nasdaq move higher without it? said...

Hi Shawn

Apple is now into big support at about $505.00 based on a P&F chart and AAPL is also sitting on a very long primary trend line.

I think the big correction is over

Bill Carrigan