The S&P 500 Index survived the large range day correction on may 17, 2017. It extended the first daily cycle to be 24 days. Now it is 7 days into the second daily cycle. This new weekly cycle started on April 13, 2017 is on pace to fulfill the upside target at 2478.
We at Pricentime.com run daily, weekly and monthly scanners to search for stocks that are ready to take off. The focus of the search is the study of price and volume information in the given stocks to predict pending movements. We also scan unusual option activities to find winners.
Today the market gave us a large correction. Is this the beginning of a market crash? Should you get out of the market? The short answer is YES and NO. It all depends on your positions and investing time horizon.
The stock market has been trading in a very small range, but the bullish posture has been intact. The general market has been very supportive for the “story” stocks. The storied stocks have kept traders and investors busy while the general indices appeared to be comatose. Our algorithmic scanners
Mr. Market just had very boring eight days. The trading range was about 18 points for eight days! Today it broke the previous weekly cycle fractionally. Nasdaq broke the previous high two weeks ago while Dow Jones hasn’t had a breakout. Can we trust the S&P 500 breakout?
