In today’s edition of the Sterling Market Commentary we take a look at the Dow Jones Industrial Average and its prospects for completing a cup pattern with a measured move higher, as well as what are new upside target would be and how long we estimate that it would take to get to those levels.
Sterling Investment Services look at Monday’s market activity, and our thoughts on Tuesday’s market. In addition we take a look at the Dow Jones Transportation Average and our thoughts on it completing a cup pattern with our new upside target for the Dow Jones Transportation Average if the cup pattern is completed.
A Few Thoughts on Friday’s Market: In looking at the charts of the major market indices, I would like to remind everyone that the Dow Jones Industrial Average is entering an area of upside resistance where significant or meaningful gains from these price levels may be very difficult to achieve. I continue to see significant political risk to the market that could easily send the market dramatically lower in a very quick period of time. As a result we are recommending that investors tighten their stops, consider selling calls on any stock that may be approaching over bought territory, and in some cases buy puts outright.
Sterling Investment Services look at Wednesday’s market as well as our thoughts on Thursday’s upcoming market. In addition, in this morning’s Sterling Market Commentary we take a look at the price of oil and its potential to reach $100 and what happens if it breaks that price level.
Sterling Investment Services look at the 1st trading day of 2013 and our thoughts on the upcoming trading day, as well as our comments on a recent Op-Ed by Martin Feldstein in today’s Wall Street Journal titled “The Fed’s Dangerous Direction.”
Well, I will confess to having taken most of December off and letting the political mess in Washington D.C. play out. It turned out to be a good opportunity to spend some time with family and for us to enjoy our 4 month old baby boy. The situation in Washington DC continues to make a mess of the markets with computer programs that spit out trading strategies based upon headlines written by a news industry primarily staffed by a young, underpaid and an over worked staff. These programs lack the capacity to read through the details of the articles with any form of understanding of what they are reading. They simply count key words that they assign ratings
Sterling Investment Services look at the market activity for Wednesday December 12th, 2012 and our thoughts on Thursday’s upcoming market.
Sterling Investment Services looks at the recent market moves since the October 5th high and the possibility of some election based year end tax planning as explaining the recent moves. We have also included our weekly economic calendar.
Sterling Investment Services thoughts on Thursday’s market, and our expectations for Friday’s market, as well as our current support and resistance levels on the major market indices.
Sterling Investment Services look at Wednesday’s trading activity and our thoughts on the market going forward. We have also provided our thoughts on what the U.S. Economy needs in order to start growing and show sustained positive growth.
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