Evaporating Momentum

December 1st, 2014
in contributors

by Jeff Pierce, Zentrader

Oct 15th - Nov6th

  • 17 trading sessions
  • 1705 point gain on Dow
  • 4 down trading sessions with all closing off the lows and near the highs but on one day

Follow up:

Nov 7th - Nov 28th

  • 15 trading sessions
  • 274 point gain
  • 4 down sessions with all but one closing at/near the highs

While it's impossible to know if the markets are going to ever correct again (slight sarcasm), one can't deny that the strength of the recent move is deteriorating. Staunch bulls could argue that we're simply digesting the gains, and that is something one should consider here, but it's really hard to believe that some sort of correction is coming based on the strength of the move and the refusal for any sort of selling to stick.


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