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Non-Tech : Kirk's Market Thoughts
COHR 198.94+0.7%12:08 PM EST
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To: Kirk © who wrote (3607)11/19/2015 10:55:28 AM
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Kirk ©

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Yesterday every Dow stock closed up. Great for the bulls right?

Not all that great as over 50% of S&P 500 stocks are trading below 200 day sma's.

It was not even an 80% upside day for the market overall.

Investors have become much too selective in their stock picking for this rally to continue indefinitely. The NDX looks pretty good because the big money is all buying the same stocks. That's why the DOW was able to manage a day where all its components were up yesterday.

The DOW Transports? No where near new highs. The Russell 2000? Not making much of a move at all.

We might get some of new highs but really we are still forming a major market top that will be followed by a bear market in my humble opinion.

RtS
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