Most Popular
1. It’s a New Macro, the Gold Market Knows It, But Dead Men Walking Do Not (yet)- Gary_Tanashian
2.Stock Market Presidential Election Cycle Seasonal Trend Analysis - Nadeem_Walayat
3. Bitcoin S&P Pattern - Nadeem_Walayat
4.Nvidia Blow Off Top - Flying High like the Phoenix too Close to the Sun - Nadeem_Walayat
4.U.S. financial market’s “Weimar phase” impact to your fiat and digital assets - Raymond_Matison
5. How to Profit from the Global Warming ClImate Change Mega Death Trend - Part1 - Nadeem_Walayat
7.Bitcoin Gravy Train Trend Forecast 2024 - - Nadeem_Walayat
8.The Bond Trade and Interest Rates - Nadeem_Walayat
9.It’s Easy to Scream Stocks Bubble! - Stephen_McBride
10.Fed’s Next Intertest Rate Move might not align with popular consensus - Richard_Mills
Last 7 days
US Presidential Election Year Stock Market Seasonal Trend - 29th Nov 24
Who controls the past controls the future: who controls the present controls the past - 29th Nov 24
Gold After Trump Wins - 29th Nov 24
The AI Stocks, Housing, Inflation and Bitcoin Crypto Mega-trends - 27th Nov 24
Gold Price Ahead of the Thanksgiving Weekend - 27th Nov 24
Bitcoin Gravy Train Trend Forecast to June 2025 - 24th Nov 24
Stocks, Bitcoin and Crypto Markets Breaking Bad on Donald Trump Pump - 21st Nov 24
Gold Price To Re-Test $2,700 - 21st Nov 24
Stock Market Sentiment Speaks: This Is My Strong Warning To You - 21st Nov 24
Financial Crisis 2025 - This is Going to Shock People! - 21st Nov 24
Dubai Deluge - AI Tech Stocks Earnings Correction Opportunities - 18th Nov 24
Why President Trump Has NO Real Power - Deep State Military Industrial Complex - 8th Nov 24
Social Grant Increases and Serge Belamant Amid South Africa's New Political Landscape - 8th Nov 24
Is Forex Worth It? - 8th Nov 24
Nvidia Numero Uno in Count Down to President Donald Pump Election Victory - 5th Nov 24
Trump or Harris - Who Wins US Presidential Election 2024 Forecast Prediction - 5th Nov 24
Stock Market Brief in Count Down to US Election Result 2024 - 3rd Nov 24
Gold Stocks’ Winter Rally 2024 - 3rd Nov 24
Why Countdown to U.S. Recession is Underway - 3rd Nov 24
Stock Market Trend Forecast to Jan 2025 - 2nd Nov 24
President Donald PUMP Forecast to Win US Presidential Election 2024 - 1st Nov 24
At These Levels, Buying Silver Is Like Getting It At $5 In 2003 - 28th Oct 24
Nvidia Numero Uno Selling Shovels in the AI Gold Rush - 28th Oct 24
The Future of Online Casinos - 28th Oct 24
Panic in the Air As Stock Market Correction Delivers Deep Opps in AI Tech Stocks - 27th Oct 24
Stocks, Bitcoin, Crypto's Counting Down to President Donald Pump! - 27th Oct 24
UK Budget 2024 - What to do Before 30th Oct - Pensions and ISA's - 27th Oct 24
7 Days of Crypto Opportunities Starts NOW - 27th Oct 24
The Power Law in Venture Capital: How Visionary Investors Like Yuri Milner Have Shaped the Future - 27th Oct 24
This Points To Significantly Higher Silver Prices - 27th Oct 24

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

Stock Market Boredom.....Going Nowhere.....

Stock-Markets / Stock Markets 2011 Nov 15, 2011 - 05:11 AM GMT

By: Jack_Steiman

Stock-Markets

It's painful mentally. We don't go anywhere. So many head fakes. There are many days, such as last Friday, that get you to thinking the breakout is upon us. There have been many days where you'd bet the house the bears are about to take over. Just think back to last Wednesday. No follow-through from either side of the coin. Both make headway, but neither can get the job done, and therefore, we continue to trade in a range with whipsaw the only word that really works to explain the markets action over the short- to medium-term.



There is no volume to be found on either side no matter what takes place technically. The breakout can occur on an individual stock, or a breakdown, but when you look for confirmation from volume, it's just not there. Because of this the breakouts, and the breakdowns, just aren't sticking. This is mirroring the market index charts, which appear to do one thing on a given day, only to do something entirely different the next. It's like they say up north, if you don't like the weather, wait a few minutes, and it'll change.

The market is this kind of behavior, no doubt. It just can't make up its mind, and it's frustrating everyone from trader to investor. Who can blame anyone for feeling like things are too tough here. This is the reason for so little volume. The market continues to just play out this way, because there's no conclusion one way or the other in Europe, where the market can't decide what will play out. It can't decide whether defaults are the new game in town, or whether smarter minds will gather together to prevent such an event from becoming a reality. We'll get an answer at some point in time, but the market is acting as if it doesn't have a clue as to when that will take place. So, in the meantime, we just meander about day to day for no good reason. Up and down we go for now.

Markets are palpable. You can feel the energy of them just like you can feel human emotions from different perspectives. You can feel silence. You can feel excitement. You can feel despair. On and on. When something is thick with a particular emotion it takes on a life of its own. This market is causing a lot of emotions, but what I feel the most is boredom and frustration. A give up type of feel to things. It's as if people just don't know how to trade, or what to do next as things change literally from day to day. How you set-up things at the end of the day, is not necessarily what it is when you wake-up.

You can't play from any other perspective, thus, this market is confounding everyone. No one feels like their making headway to anything positive. Frustration builds, and you can see it in the silence of people -- frustration through absence of communication, frustration through actions. I'm afraid this market will continue with this behavior, and thus, the likelihood of this frustration continuing is quite high. People often act in ways they regret later on once they have time to reflect. Try to step back. Know that it'll pass in time. Don't make hasty decisions just because you think nothing really good is coming out of the market these days. Patience always pays off.

The financials were once the plan of attack for the bears today. These stocks stunk up the market like no others, as usual. Good patterns that recently existed are no longer that good. More on the bearish side, and there's no doubt these stocks are still entrenched on the bearish side of the market. That said, retail and many other sectors are doing just fine and leading this market up. Retail sales get reported tomorrow morning. It'll be very interesting for sure. If it's good, these stocks will help the market gain back the losses from today.

The financials are only one part of the equation. The market has proven in can have an equilibrium even with those horrific stock performers as others take over. Add in Apple Inc. (AAPL) behaving poorly still. It's good to see how well this market holds up. It gives the bulls hope even though things feel so bad out there. Know where you're putting your money is the key here as the market refuses to die. It may feel like it should die, but it's not, and if you want to be involved, avoid the worst area. That is the financial stocks! Some things don't change. Or so it seems.

And so we sit in these back and forth patterns that will have to break in time. When they do, this boredom will go away and the winner will have a very directional move for a while until the next boring set-up takes shape. The good news is things do break one way or the other, and ultimately, these triangles will snap. These patterns will break, and things will at least get more interesting. The sideways look of this market is causing restlessness. Just hang in there and be smart. Wait for things to snap. I think they'll break higher before massively lower. I could be very wrong, and thus, let's keep it appropriate. If we lose the 50-day exponential moving average at S&P 500 1222, things will deteriorate fast. If we break above 1275, or trend line resistance, then we shoot upward towards 1292. These are interesting times. Be patient.

Peace,

Jack

Jack Steiman is author of SwingTradeOnline.com ( www.swingtradeonline.com ). Former columnist for TheStreet.com, Jack is renowned for calling major shifts in the market, including the market bottom in mid-2002 and the market top in October 2007.

Sign up for a Free 21-Day Trial to SwingTradeOnline.com!

© 2011 SwingTradeOnline.com

Mr. Steiman's commentaries and index analysis represent his own opinions and should not be relied upon for purposes of effecting securities transactions or other investing strategies, nor should they be construed as an offer or solicitation of an offer to sell or buy any security. You should not interpret Mr. Steiman's opinions as constituting investment advice. Trades mentioned on the site are hypothetical, not actual, positions.


© 2005-2022 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in