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Stocks Stealth Bull Market Closes At New Dow High

News_Letter / Financial Markets 2010 Mar 24, 2010 - 01:12 AM GMT

By: NewsLetter

News_Letter The Market Oracle Newsletter

March 20th, 2010 Issue #16 Vol. 4


The Market Oracle Newsletter
March 20th, 2010            Issue #16 Vol. 4

Commodities Currencies Economics Housing Market Interest Rates Education Personal Finance Stocks / Financials Real Gems

Stocks Stealth Bull Market Closes At New Dow High

Dear Reader

This week the stocks stealth bull market that bottomed in March 2009 confounded widely held expectations by both the bulls and bears of immediate term price action lower to dissipate its overbought state that failed to materialise, instead the stock market on Wednesday broke to a new bull market high by closing at Dow 10,733 with a further advance on Thursday, followed finally by a small down day on Friday to break a 8 day winning streak with the Dow closing at a new weekly high of 10,742.

The Dow high had lagged other stock indices that had made new highs over previous week including the UK FTSE, S&P500 and Nasdaq (though not other European indices despite the weak Euro).

Stocks Stealth Bull Market Trend Forecast For 2010 - The Inflation Mega-Trend Ebook Page 82 (DIRECT Download)

Dow 10,067 - Stocks Multi-year Bull Market that bottomed in March 2009 will trend Sideways during first half of 2010 attempting to break higher. The second half will see a strong rally to above 12,000 targeting 12,500 during late 2010.

DOW Stock Market Forecast 2010

The stock market was / is expected to experience resistance along its 50% axis (10,333) to conclude in a sideways trend for the first half of 2010, the trend off of the early Feb low is showing relative strength against this expectation.

Whilst many (most?) since the January high have been anticipating the for the bear market to resume, my strategy remains for accumulating on corrections into the target sectors (see ebook), which even without a general market correction materialising the strategy has been to accumulate on rotating sector corrections.

Stock Market Where Next ?

Breakout Higher for a New Up leg? Double Top? Bearish Elliott Wave Pattern? Overbought? This does demand an in depth analysis which will follow in the next few days that will aim to project a trend forward into May 2010.

For more mega-trend forecasts across the financial market and implications of the unfolding Inflation Mega-Trend download the Inflation Mega-trend Ebook now, which includes analysis and precise forecasts for:

  • Interest Rates
  • Economy
  • Inflation
  • Gold & Silver
  • Emerging Markets
  • Stock Markets
  • Stock Market Sectors and Stocks, including ETF's
  • Natural Gas
  • Agricultural Commodities
  • House Prices
  • Currencies
  • Crude Oil

Your Analyst.

By Nadeem Walayat

http://www.marketoracle.co.uk

Copyright © 2005-10 Marketoracle.co.uk (Market Oracle Ltd). All rights reserved

Featured Analysis of the Week

Most Popular Financial Markets Analysis of the Week :

1. Paper Gold Market Is Going to Explode, Buy Physical Bullion NOW!

By: Gordon_Gekko

Evidence seems to be mounting that we are headed towards some sort of implosion in the paper Gold market, and perhaps the currency/bond markets in general. Let’s take a look:

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Gold Supported by Geopolitical and Sovereign Risk as S&P and Moodys Warn US

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4. China Joins Inflation Mega-Trend, Stock Market Drifts Higher Into Resistance, Delaying Correction?

By: Nadeem_Walayat

The stock market drifted higher all week with the Dow closing up at 10625, meanwhile the FTSE raced ahead to a new bull market high of 5625, which is not surprising given the fact that the FTSE is mostly populated with international companies with a large % of overseas earnings, therefore a 10% drop in sterling makes these stocks 10% cheaper hence the out performance of the nominal indices.

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The Most Important Report of 2010

 

5. Marc Faber Says We're All Doomed and Washington Can't Do Anything About it

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Washington is patting itself on the back for having orchestrated an amazing economic recovery. But Washington lawmakers are a delusional bunch of boneheads, say Marc Faber and Mike "Mish" Shedlock, editor of the Gloom, Boom, and Doom Report and investment advisor at SitkaPacific Capital Management, respectively

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6. Marc Faber Says Cash is High Risk, U.S. Dollar Will Eventually Fall to Zero

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7. U.S. Financial System is On the Edge of Default

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The dramatic and costly undertow of deflation continues unabated, as government via fiscal policy and the Federal Reserve, by creating money and credit out of thin air, proceed to overpower this deflation with massive inflation.

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8. Stock Market Run Run Away

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Last week I hypothesized that the markets are  “On the Brink of an Asset Explosion”.  If this is going to play out then we can probably expect to see runaway moves develop in virtually all assets soon. 

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