Online Stock Trading | Markets surge as volume falls, slightly

Markets surge as volume falls, slightly


Filed Under Market Commentary |

Steamrolling into the close the markets fueled by the Federal Reserves beige book. Contained within that book the statements like there are few inflation pressures and growth will remain moderate boosted market bulls. What surprises me is from my summer posts about mid-term elections derailing this market. I WAS WRONG, a strong market simply can not be held down.
Charts tell stories about supply and demand or about buyers and sellers. Today’s action is telling me that we still do not have a total buy in from bulls, we have not exhausted this run yet. I fully expect the market to take a breather here, stocks do not move in straight lines. As the market pulls back we’ll have to find stocks who ignore these pull backs. Stocks who continue to act bullish will be the ones we pay attention to!
Now, where did we end up:
NASDAQ +1.64%
Russell 2k +2.07%
S&P 500 +0.95%
S&P 400 +1.48%
S&P 600 +1.92%
NYSE comp +1.01%
This is the time to look at stocks who show tremendous growth in earnings, sales, excellent ROE and are close to hitting all time highs.
This market still has legs, we may see a slight pull back but we aren’t close to a nasty sell-off we saw in May.
Good Luck and see you at Investors Paradise!!!
MktSpec

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