Momentum Monday – The Dead Sea Of Risk
Marketsmith (by Investor’s Business Daily) is now a sponsor of the weekly show. All the charts you have been seeing in the videos and will continue to see are from Marketsmith.
I will open with a great summary riff on the health of the market from ‘Rotation Report‘…
Stocks sold off Friday on news the economy is doing too good while simultaneously selling off on news the economy is doing too poorly via AMD. That’s two Friday’s in a row where all that matters is SELL.
I call this market ‘The Dead Sea’ because it is seeking out any weakness right now.
It is going to be an interesting week in the markets. Throwing fuel on the volatile fire will be earnings starting with the banks leading the way.
I will get right to this weeks Momentum Monday video where Ivanhoff and I lay out the negative momentum that has been building up in most markets.
You can watch/listen to this weeks show right here on YouTube. I have embedded it below on the blog as well:
It is important to let the power of this negative momentum run its course.
Here are Ivanhoff’s thoughts:
We are in the sentiment cycle where good news for the economy is bad news for the stock market. September jobs number came a bit above estimates and the market sold off on Friday erasing most of its gains for the week. The Fed won’t pivot until it sees a significant uptick (Read more...)