How Much Upside Is Left?

February 17th, 2014
in contributors

by Jeff Pierce, Zentrader

The Nasdaq is fighting to get back to 2014 highs and while it just may make it back I don't think it'll stay there. That will leave the Dow well shy of new highs and make for a failed attempt to break out if what I see happening plays out. But I don't leave my trading strategy up to what I think is going to happen, simply put I'm just not seeing any new setups on the long side that is causing me to want to buy right now. That makes my job rather easy at this point waiting for either the markets to break out or pull back.

Follow up:

If we break out we'll need to see new leaders emerge. Until then I'm staying out of the buying frenzy as I've moved pretty much to a cash position as of Tuesday last week. There are times when waiting and watching is the best strategy and I think now is one of those times - especially now that my market timing signal remains firmly down.

Shaded area marks resistance

nasd

djia










Make a Comment

Econintersect wants your comments, data and opinion on the articles posted.  As the internet is a "war zone" of trolls, hackers and spammers - Econintersect must balance its defences against ease of commenting.  We have joined with Livefyre to manage our comment streams.

To comment, just click the "Sign In" button at the top-left corner of the comment box below. You can create a commenting account using your favorite social network such as Twitter, Facebook, Google+, LinkedIn or Open ID - or open a Livefyre account using your email address.

















 navigate econintersect.com

Blogs

Analysis Blog
News Blog
Investing Blog
Opinion Blog
Precious Metals Blog
Markets Blog
Video of the Day
Weather

Newspapers

Asia / Pacific
Europe
Middle East / Africa
Americas
USA Government
     

RSS Feeds / Social Media

Combined Econintersect Feed
Google+
Facebook
Twitter
Digg

Free Newsletter

Marketplace - Books & More

Economic Forecast

Content Contribution

Contact

About

  Top Economics Site

Investing.com Contributor TalkMarkets Contributor Finance Blogs Free PageRank Checker Active Search Results Google+

This Web Page by Steven Hansen ---- Copyright 2010 - 2017 Econintersect LLC - all rights reserved