Negative facts…IWM, QQQ

Posted on May 10, 2014 by in Uncategorized

The market continues to do what the market does -- that is, it obeys the law that the present trend tends to continue.  Since the present trend is sideways it continues to grind sideways.  For all intents and purposes the sidewinder started in January.  Close Dow Jan 1 16441.  Close Friday 16583.  Not counting the nasty little downwave in January.  During this time the bio-techs and  techs have taken it in the ear and technicians and worry warts have fretted (frotted?) over the weakening of  market indicators.  Investors, spooked by all the top chatter have bid up the bonds and appear to be liquidating small caps and plowing the money into the majors.  Well, as the car insurance ad says, everybody knows that.  What do we know that they don't?

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