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Pastimes : The Philosophical Porch
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From: Rarebird4/23/2010 9:02:51 AM
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Transcendental Market Truths:

The Market:

Stocks dipped, but reversed course yesterday as big buying support came in on the dip. The broad market outperformed as those indices broke out of the trading range to the upside while the blue chips were hemmed in by support and resistance lines. Money flow remained relatively strong in the blue chips.

However, this market is likely to continue to be subject to cross-currents here. Some are due to earnings announcements, some are due to light volume. Profits will be taken and latecomers will rush to buy dips. The only sure thing is that the intermediate trend in the market is still up into mid May and surprises till then are on the upside.

EUR/USD:

The Euro continues to weaken as the truth gradually emerges about the prospects (not good) for that currency.

MidCaps:

The broad market showed excellent strength as the MidCap Index continues to power higher.
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