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Maybe. But it is only a correction
DJ will hv to correct to 14500 for meaningful rally towards 16000. Otherwise sure kana ambush if it tries to breach 15500.
For now know what u are trading.
Correction shd be near.
Jeremy Siegel of UPenn says the bull market is being driven by low
interest rates, while Jim Rogers says the rally is artificial.(4min video)
DOW
- 125.94
15,283.45
Stock Futures
Americas
Index Future Future Date Last Net Change Open High Low Time
Dow Jones Indus. Avg Jun 13 15,319.00 -54.00 15,366.00 15,388.00 15,309.00 04:40:01
S&P 500 Jun 13 1,648.00 -6.60 1,654.00 1,656.60 1,646.20 04:39:58
NASDAQ 100 Jun 13 2,993.75 -9.75 3,004.00 3,008.25 2,990.00 04:39:05
Bull run still on
...Dow future was down ~56 point..... now positive ....choppy market neh....
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Dow Jones
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Jun 13
|
15,378.00
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+5.00 |
15,366.00
|
15,378.00
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15,359.00
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19:49:30
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S& P 500
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Jun 13
|
1,655.40
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+0.80 |
1,654.00
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1,655.40
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1,653.70
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19:57:42
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NASDAQ 100
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Jun 13
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3,006.00
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+2.50 |
3,004.00
|
3,006.00
|
3,003.00
|
19:41:13 |
NEW YORK -- The dizzying 2013 stock market rallywas reignited Tuesday
by multiyear highs in home prices and consumer confidence, a sign the
four-year bull run reflects a healing economy and not just the Federal
Reserve's easy-money policies. " The economic numbers we're seeing are confirming what the U.S. stock
market has been telling us all year: The economy is on a stronger
footing and improving longer-term," says Brian Belski, chief investment
strategist at BMO Capital Markets. Skeptics of the Dow's run to
one record high after another have repeatedly questioned the validity of
the rally, arguing that the Dow's rise has been artificially inflated
by the the Fed's 0% interest-rate policy and its bond-buying program,
which is designed to keep borrowing rates low." My take is that rising confidence is driving the stock market higher,"
says Paulsen, adding that investors now believe that the worst-case
fears they've harbored since the 2008 financial crisis are not going to
be realized. " People are giving up the Armageddon ghost amid a growing
perception that the economy, while not growing fast, is on a sustainable
growth path." ...more...
Quincy Krosby, market strategist at Prudential Financial, says a number of factors are driving the rally, including:
• A strong stock market performance in Asia and Europe where benchmark indexes finished the day up 1% to 2%.
•
The one-two punch of strong news on the U.S. housing market, which hit
its highest level in nearly seven years, and the highest reading on
consumer confidence in five years.
• Investors' reassessment of
all the talk last week regarding the Federal Reserve's plans to slow its
purchases of bonds, perhaps earlier than expected. They had a long
weekend to digest what Fed chair Ben Bernanke testified last week and
other policymakers said at the most recent Fed meeting, and Wall Street
is now betting that the Fed's moves will be " data dependent." For
example, the current 7.5% rate of unemployment is a full percentage
point shy of the Fed's target for dialing back, so investors don't
expect the central bank to begin trimming its bond-buying program right
away.
Also adding to the bullish tone was the European Central Bank
reiterating that they would continue to provide liquidity to markets and
could cut interest rates, says Krosby.
Many money managers, she
adds, " have missed out" on the year's big gains and are likely jumping
into stocks in an effort not to be left behind.
" Overall, the stock market is moving higher on continued liquidity from central banks and better economic data," Krosby says.
Stocks 
jump
after home prices, confidence surge
Stocks surged on Wall Street Tuesday after U.S. home prices rose the
most in seven years and consumer confidence reached a five-year high.The
Dow Jones industrial average rose 0.7% to close at another record
Tuesday, bouncing back from a loss the week before. The Dow jumped
106.29 to 15,409.39. The 30-stock Dow closed higher for the 20th
straight Tuesday. That would be the longest day-of-the-week string of
consecutive gains in the Dow's history.The S& P's 500 jumped 10.46, or 0.6%, to 1,660.06 and the Nasdaq composite index rose 29.74, or 0.9% to 3,488.89.The
strength of the rally surprised market-watchers, many of whom have been
predicting some kind of pullback or correction after stocks' dizzying
run of record closing highs in 2013. The S& P 500's 1.1%
jump in the first 30 minutes of trading has happened eight times before
in the past 12 months, says Bespoke Investment Group.Tuesday's rally, which equates to a massive shift on the part
of investors to take on more risk, resulted in a sell-off in the U.S.
government bond market. The rally's impact showed up in the yield on the
10-year Treasury note, which spiked to 2.14% Tuesday, as investors
abandoned the safety of stocks for the higher-risk potential of stocks.
The yield, which moves inversely to the price, is up from 2.01% on
Friday.The bullish sentiment was fueled by Tuesday's report showing consumer confidence hit a five-year high in May. The
Conference Board, a New York-based private research group, says its
consumer confidence index rose in May to 76.2, the second straight
increase. That's up from a reading of 69.0 in April and the highest
since February 2008.Also on Tuesday, a better-than-expected report on the housing market
showed home prices continued to rebound in 20 key cities in March and a
widely followed report on consumer confidence, due out at 10 a.m., is
expected to show the economic outlook remains bright.
. ...just an indicator among others.....
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Dow Jones | Jun 13
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15,411.00
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+104.00 |
15,365.00
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15,417.00
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15,290.00
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04:26:13
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S& P 500
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Jun 13
|
1,662.80
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+12.20 |
1,651.60
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1,663.80
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1,644.50
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04:28:22
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NASDAQ 100
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Jun 13
|
3,022.00
|
+29.75 |
3,006.00
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3,022.00
|
2,992.75
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04:29:21 |
Wall Street Week Ahead: Look for Signs in the Rally's Break
...
That's why Wednesday's reversal - where the Dow and the S& P 500 both rose more than 1% during the morning, but fell more than 1% in the afternoon - caused many investors to take notice.
" That's a change. Historically, when you get that kind of a reversal day, it kind of stalls things out for a while," said Frank Gretz, market analyst and technician for brokerage Shields & Co in New York.
But he said the market's up trend has mostly been orderly, with little divergent action.
,,,more...
World stock markets to grind higher
World stock markets look set to bump around awhile after Thursday's
plunge in Japan before resuming a rally fueled by cheap central bank
cash.
Investors had a rude awakening this week as the Nikkei
index plunged by over 7% in its worst day for two years, leaving some
wondering whether the surge in global equities was now over after such a
significant pullback.
" This is a classic holiday market reversal," said Neil Shah, a director at London's Edison Investment.
When investors and traders return to their desks after the long weekend
in the U.S. and the U.K., stocks would continue moving higher, he said.
Japan, where the benchmark Nikkei
index has rallied by more than 70% in less than 12 months, could see a
more substantial correction before turning higher again. " I
expect another 5% to 10% downside before another march upwards," said
Nick Beecroft, senior market analyst at Saxo Capital Markets. ...more...
Europe stocks rebound from two-day rout
MADRID (MarketWatch) — European stock markets traded higher on Monday after two straight days of losses, helped by gains for autos and banks, though holidays in both the U.S. and U.K. were keeping volumes thinned.
...more...
U.S. stocks break four-week winning streakIndexes end rocky week with mild loss ahead of long weekend
NEW YORK (MarketWatch) — U.S. stocks fell for the first week in five as
the prospects of the Federal Reserve starting to reduce its bond-buying
stimulus rattled a market trading at historic highs.
Friday’s losses, however, were mild as investors found some support from
a stronger-than-forecast report on demand for big-ticket purchases and
after the prior session’s improvement in jobless claims.
The Dow Jones Industrial Average ended Friday with an 8.6-point gain, up 0.1% at 15,303.10 after losing
95 points early in the session. It lost 0.3% for the week.
The S& P’s 500 Index
dipped 0.91 point, or 0.1%, to 1,649.6. Among S& P sectors,
utilities, energy and telecommunications were the biggest losers. The
index lost 1.1% for the week.
The Nasdaq Composite
lost 0.3 point, or 0.01%, to 3,459.14, off 1.1% for the week.
...
“The market likely will be in a push and pull scenario as growth moves
forward and investors speculate on future Fed action,” said Michael
Yoshikami, CEO of Destination Wealth Management in Walnut Creek, Calif.,
in an email interview.
Helping lift sentiment a bit, the Commerce Department said orders for long-lasting, big-ticket U.S. goods rose 3.3% in April,
led by higher demand for aircraft, military wares and autos. That beat
forecasts, as economists surveyed by MarketWatch had expected a 1.4%
gain.
U.S. markets will be closed Monday for Memorial Day, and U.K. markets will be closed Monday for a holiday.
“Profit-taking ahead of a long weekend in the U.S. and U.K. appears to
be the name of the game today, said Colin Cieszynski, senior market
analyst at CMC Markets in emailed remarks.
One of the Last Great OpportunitiesA pullback in the stock market is providing investors a last chance to get onboard before a sustained rally gets underway, UBS Wealth Management Managing Director Robert Sechan said Friday.
" The economy's clearly gaining traction. Investors are building confidence, and investors are way offsides from an asset allocation standpoint," he said. " You look at this Fed communication, and I think it gives investors one of the last great opportunities to get involved with the market before the train goes express."
Sechan, with $5 billion in assets under management, was named one of Barron's Top 100 Financial Advisors.
On CNBC's " Fast Money," he noted that cash sitting on the sidelines would begin to enter the stock market as the rally matures.
" I think the reason they think there's this much more upside is that assets have moved a lot, but investor positioning has not," he said. " You look at cash in investors' portfolios , it's still at exceedingly high levels. Markets are not valued very high from a fundamental standpoint." Sechan said that equities held promise with valuations at a 15 multiple this year and 14 next year.
" There's room to run," he said, comparing stocks as an asset class to " the best house on a bad block."
" I think investors are looking to re-embrace that risk," he said.
U.S. stocks end volatile day with modest loss
Equities hit by Fed, Asian selloff, but then pare losses
NEW YORK (MarketWatch) — U.S. stocks fell modestly on Thursday,
substantially paring intraday losses after upbeat U.S. economic reports
and gains for Hewlett-Packard Co. countered worries about the Federal
Reserve potentially tapering its bond-buying program.
Stocks had dropped sharply at the start of trading, taking their cue
from a massive selloff in Japanese equities overnight. However, they
began to lift off their session lows after the release of housing data
mid-morning.
The session was choppy, with stocks briefly rising into positive territory only to surrender those gains.
The S& P’s 500 Index dipped 4.84 points, or 0.3%, to end at 1,650.51, with utilities leading
declines among its 10 major sectors and telecommunications the only
gainer. The Nasdaq Composite fell 3.88 points, or 0.1%, to 3,459.42.
After dropping as much as 127 points, the Dow Jones Industrial Average finished down 12.67 points, or 0.1%, at 15,294.50, with only nine of its 30 components in positive territory.
The blue-chip index was helped by a 17% jump by Hewlett-Packard Co. following the computer maker’s earnings report.
...
“Yes, stocks really can go down,” said Brian Belski, chief investment
strategist at BMO Capital Markets. Before staging a negative reversal
Wednesday, the S& P 500 had risen to an intraday record of 1,687.18
representing an 18% gain in 2013 to date.
But Belski, speaking early Thursday, added that he views the current action as just a pullback.
“Do we believe the bull market is over? Categorically no,” he said. “This is a calm. This is a respite. This is not 2008.”
Other strategists also have said they’re not expecting a deep drop for U.S. equities, saying the Nikkei was more “stretched.”
U.S. stock futures had been sharply lower ahead of the Wall Street open,
but the stock market pared losses as the regular session progressed.
That signals there were people with money on the sidelines waiting to
buy on a sloppy day, said Robert Doll, chief equity strategist at Nuveen
Asset Management.
mat sallehs always need crutch lah...so used to QE now want to ease only they panic like small girls... really disappointing Americans.... weak.
have been waiting for the correction & looking out for events that could reverse positive market sentiment.. didnt think the market fall even after bernanke says will continue easing.. really very hard to tell what investors gonna do next lol.. however, dont think this will be a major correction, but we never know lol..
...Dow Future -153.00 ,,,,
...Thu Dow closing.... really -160
+ point.... two-days total -200
+ point.... oh nooo....but,,,
.... we are so bless.... no trading day.... we enjoy our public holiday.... we are soooo lucky....
Ben says QE3 might slow soon, how will market unfold?
Dear Friends,
The recent rally in Dow is without doubt fueled by the QE. Even bad economic reports are treated as great weapons by the bulls. The bulls have been holding on to the belief that bad news are good news. However all this may come to an end IF QE3 really starts to taper.
Article in marketwatch
We predict that Quarter 3 might not be as easy. If everything goes according to what this marketwatch suggests, tapering may start as early as June. We then have to be careful in our decision to go long. Confidence might start to waver. Those who bet and make money on the QE3 might start to fumble.
Hence these few days, it is important to note the market confidence. See whether there are any changes to how the market respond. It might, given the powerful 6 months rally!
A triple day drop is one signal that market confidence has wavered. Do take note of the 20day MA too! A down direction will indicate the start of a mid term down trend. A 2 weeks drop will be the final confirmation.
However today is still early to know how the market might react these few days. Just watch how the market reacts.
Rgds
Daniel
