A Market Timing Report based on the 12-27-2013 Close published Sunday December 29th, 2013
The SP500 Index (SPX, SPY) has met my first upside target, the white line on the chart below. The next target is in play for the Bulls, but it’s going to likely require some earnings reports that please the street. As explained in my 10 Year Treasury discussion (see link to upper right), stocks now have some growing competition depending on how fast rates rise. If they rise very quickly, expect the SPX to suffer along with most the rest of the world’s stock markets. If earnings rise faster than rates, further highs become possible. 2014 needs to be the year for impressive earnings.
Sentiment is starting to flash caution signs and it’s a must read this week. I covered my thoughts on investor sentiment for free subscribers on Thursday, so be sure to read them. You can access them after getting the password here: Free Subscription to My Newsletter and access to my latest comments I’ll send you back the password to the access page and the monthly newsletter in the same email.
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Look for updates on the main chart tracking pages this week as I feel they are needed and comments via Twitter.
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