The Market Is at an Interesting Juncture
Look Out Below?
May 1st was a key date for the market this year, as it was last year.
July 22 was another key day last year. Could it also be this year?
There are some similarities, including a summer rally that has the market in another triangle formation. The direction of the breakout from such a formation frequently determines the market’s direction for a while.
This is also an options expirations week, and the market tends to be positive into Friday’s expirations. It then tends to be down the week after the July expirations (about 70% of the time), sometimes significantly. For instance it was down 4.2% the week after July expirations in 2007, and 4.3% in 2008.
But we had some uncertainties in the economy in those years. We don’t have any this year- do we?
About Sy Harding
Sy Harding Archive
|12/06/2013||Will the Real Economy Please Stand Up?||story|
|12/02/2013||Market Seasonality and The Fed Are a Powerful Combination||story|
|11/22/2013||The Fed Is Backed Into a Corner||story|
|11/15/2013||Why It’s Still Only a Cyclical Bull Market Within the Long-Term Secular Bear||story|
|11/08/2013||Don't Worry So Much About the Record U.S. Government Debt||story|
|11/01/2013||It’s Still Too Early to Worry About the Fed Tapering||story|
|10/25/2013||The Bull Market Continues, but Watch Out for the Short Term||story|
|10/18/2013||New Concerns Will Continue Market’s Volatility||story|
|10/11/2013||Buy Emerging Markets, But Carefully||story|
|10/04/2013||Sell In May and Re-Enter When?||story|