% | $
Quotes you view appear here for quick access.

SPDR S&P 500 ETF Message Board

  • ibdman15 ibdman15 Feb 1, 2013 9:33 PM Flag

    big Picture tonight

    Stock indexes opened February with bulldozer moves as the S&P 500 and the NYSE composite rumbled to new highs.
    The Nasdaq led with a 1.2% gain, but couldn't quite reach a 52-week high. The S&P 500 added 1%, and the NYSE composite 0.9%.
    The IBD 50 advanced 1%.

    Volume fell across the board. ********New highs on declining volume RED FLAG!!!!!!
    Psychological resistance areas at 14,000 on the Dow and 1,500 on the S&P 500 gave way (1).

    Economic news was upbeat Friday. News on consumer sentiment, construction spending and manufacturing topped views. Unemployment rose, but the payroll numbers for November and December were revised up sharply.
    For the week, the Nasdaq rose 0.9%, while the S&P 500 and NYSE composite added 0.7%. The IBD 50 lost 1.1% for the week.

    one final thought. Bulls end on glee. and usually last no more than four years. IBD also said that leg four up is from the June 2012 lows so this could be the end of the record bull run.

    Sentiment: Strong Sell

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • read once again.

      • 1 Reply to ibdman15
      • You are EASILY the BIGGEST idiot i have ever seen post on this board..

        I've had you on ignore FOREVER..!!

        You've been calling tops since i was 3 years old, and i'm 53 now..!

        I unignored you to see if the message had changed, same ole #$%$.

        You know, the worst thing about the internet is that you can't speak face to face and PUNCH the ones who need it the most. Just sit there in your corner, wimp, and pee on yourself..

    • next week could be catastrophic from a CNBC article tonight:

      That's likely one reason why fund flows are being treated with caution by some stock market experts.

      uities, but not assurance of continuous gains," Tom Lee, chief market strategist at JPMorgan Chase, said in a note.

      "Consider the contra, equity outflows over the past four years certainly did not prevent the S&P 500 from doubling," he added. "Ultimately, in the short term, equity gains hinge upon favorable risk/reward relative to the consensus view."

      The otherwise bullish Lee sees the current market getting a little toppy, with at least a short-term pullback possible because signs of enthusiasm are getting overheated.

      He points to the American Association of Individual Investors survey, in which the bulls double the bears, 48 percent to 24 percent. The Investors Intelligence Survey, which polls newsletter authors, has the bulls ahead 54-22, around the same level at the last meaningful market pullback in September.

      Lee recommended clients move to high-quality assets while the market churns.

      Bogle pointed out that retail investors remained on the sidelines for most of the 120 percent market surge since March 2009, so a rush back in now could be worrisome.

      "When retail investors think it's all blue skies out there, we could all too well be looking for a big pullout," he said. "It's very counterintuitive."

      Sentiment: Strong Sell

213.98+0.84(+0.39%)Oct 21 4:00 PMEDT