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
|02/20/2015||Are Conditions Setting the Market Up for a Summer Washout?||story|
|02/13/2015||Is Gold’s Pullback Another Buying Opportunity?||story|
|02/06/2015||The Party Is Likely Over for U.S. Treasury Bonds||story|
|01/30/2015||Potential for Deflation Is Becoming a Big Threat for 2015||story|
|01/23/2015||Central Banks and Economic Reports Keep Bull Market Alive||story|
|01/16/2015||Gold Rally Has Technical and Fundamental Support||story|
|01/09/2015||The ECB Will Be Big Factor in 2015’s First Half||story|
|01/02/2015||Seasonal Sweet Spot for Small Stocks?||story|
|12/19/2014||What Are Technical Indicators Saying About the Market?||story|
|12/12/2014||Congress Has Guaranteed the Secular Bear Market Is Not Over||story|