In today’s edition of the Sterling Market Commentary we take a look at yesterday’s market sell off, and provide our thoughts on the upcoming market. Additionally we take a closer look at the NASDAQ 100 Index ‘NDX’ and provide our thoughts regarding its breaking support yesterday and where we think it might go in the short term.
In today’s edition of the Sterling Market Commentary we take a look at other market bubbles and attempts at market manipulation that have occurred in recent decades and their results. We ask the question of why the manipulation of the bond market by the Federal Reserve Board should produce any results that are different from the outcome of other market manipulation efforts?
In this week’s edition of the Sterling Weekly we take a look at what has been weighing on the mood of the US economy as the stock market pushes towards it historic all time highs.
In today’s edition of the Sterling Market Commentary we take a look at the performance of the market since our last blog post and where we think the overall market is going from here.
A Look at Monday’s Market: The overall market moved sharply higher on Monday in a broad based move that erased the majority of Friday’s gains. I would like to point out that the Dow Jones Industrial Average has essentially reached an area of upside resistance that I wrote about in the January 22nd and January 18th editions of the Sterling Market Commentary. For a variety of reasons, I am not surprised to see a pause, a little profit taking, just a down day, or however you would like to describe Monday’s market.
In the commodities markets, Oil was sharply lower by $1.60 to $96.17 per barrel, and Gold was higher by $5.80 to $1,676.40 per ounce. In the grain markets, Wheat was lower by $0.020 to $7.630 per bushel, and Corn was lower by $0.016 to $7.342 per bushel, while Soybeans were higher by $0.144 to $14.886 per bushel.
In today’s edition of the Sterling Market Commentary we take a look at Friday’s market activity, and take a look at the longer term trendlines influencing the Dow Jones Industrial Average. Our chart posted attempts to take a look at where we might see short term resistance affecting the current move higher by the Dow Jones Industrial Average.
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.
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