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
Posts
2 comments:
What's your take on the Apple sell off? Can the nasdaq move higher without it?
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
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