Weekly earnings rose by 4 6% in third quarter
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Which Is Correct: Stocks Or Rates?
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Specifically, I stated:
“The market is trading well into 3-standard deviations above the 50-dma, and is overbought by just about every measure.
Such suggests a short-term “cooling-off” period is likely. With the weekly “buy signals” intact, the markets should hold above key support levels during the next consolidation phase.”
As shown above, that is what is currently occurring. While the market remains in a very tight range, the
“money flow” sell signal
(histogram) are rapidly declining on rallies which is a concern.
While it is confusing to have contradicting “
buy” and
“sell” signals, such suggests a consolidation of the recent advance rather than a more significant correction. Such is what seems to be in process during this past week.
and poor don t have money in their pockets. the customers are driving the economy or should be driving the economy. they are the job creators. it s dawning on them. slowly but surely it s dawning on them. look at some of the earnings analysis for firms like walmart which say, look, if people don t have money to spend, the stock price of your enterprise is in trouble. robert reich, always a pleasure. thank you. thanks, chris. up next, rachel maddow and chris matthews will be here with me as the president makes his way down pennsylvania avenue to deliver the state of the union speech. that is just minutes away. don t go away. [ male announcer ] here s a question for you: