Gene Inger's Daily Briefing
by Gene Inger
Tuesday, January 21, 2014
Inflated aspirations for growth - by analysts, pundits (some Fed officials too) were frequently cited as 'caveats' about chasing 2013's late 'defensive' rallies (the rising bottoms reflecting a lack of will to 'let go', which reflected 'fear' of even a normal correction) during which I urged 'patience' awaiting a 'Brick Wall of Resistance' at the start of 2014. (Historical confidence chart.)
Upside rebounds around the vicinity of the Daily Moving Average, constantly noted, have lacked breadth or enthusiasm, as was characterized by (more). We believed that buying or short-covering, related to the now-completed. (Had a good short sale from March S&P 1840 on Friday; details and what it means ahead noted.) The important thing we'd accomplished this week was filling a chart-gap so that wouldn't stare at us in-event (projections follow).
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Gene Inger's Daily Briefing
Started by
Chris G
, Jan 19 2014 11:38 PM
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