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
|04/17/2014||Reports Are Not Yet Confirming Slowdown Was All Weather Related||story|
|04/11/2014||The Market Is Too Dependent on Hopes That Await Evidence||story|
|04/04/2014||The Market’s Annual Seasonality Is a Real Concern This Year||story|
|03/28/2014||Why Mutual Fund Managers Cannot Protect Investors in Bear Markets||story|
|03/21/2014||U.S. Market Swimming Against an Ominous Global Tide||story|
|03/14/2014||Can U.S. Market Avoid a Serious Correction Again?||story|
|03/07/2014||Safe Havens Are Trouncing Stocks So Far This Year||story|
|02/28/2014||Do Economic Reports Mean Anything This Time?||story|
|02/21/2014||Markets Are Still Loving the Economy’s Increasing Problems||story|
|02/14/2014||Watch for a Taper Time-Out||story|