Todd Market Forecast
for Tuesday September 24, 2013
By Stephen Todd
www.toddmarketforecast.com
Available Mon- Friday after 6:00 P.M. Eastern, 3:00 Pacific.
DOW - 67 on 340 net advances
NASDAQ COMP + 3 on 250 net advances
SHORT TERM TREND Bearish
INTERMEDIATE TERM TREND Bearish
STOCKS: We were surprised by the late selling, especially considering the fact that
breadth was decent.
The budget battle and conflicting signals from the Fed were given credit for the
lack of progress and the late selling. There is probably some choppiness because of
the end of quarter window dressing.
GOLD: Gold gave up another $3.
CHART: Here's a reason to be cautious going into October. The last two times
the 20 day moving average of the Composite Gauge has been below 8.0, we had a
meaningful decline. The one previous to those, failed to halt the rally, but that was
in the midst of the "good six month" period that we covered in the May newsletter.
To read more please download the PDF here:
aamarket_commentary_2.doc 126.5KB
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Todd Market Forecast
Started by
Chris G
, Sep 24 2013 11:28 PM
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