Where is the Market? April 21, 2016

Big Picture – Wednesday Apr 20 The major indexes advanced Wednesday, but it wasn’t the type of finish that a chart reader would desire. Up until the final 45 minutes of the session, the market showed strength. The S&P 500 looked poised to finish not only up for the third session in a row, but also to end trading near the session highs. That would indicate a healthy eagerness among fund managers to deploy more capital into stocks. Instead, the big boys and girls of the market nailed down profits and raised cash in the final 45 minutes of Wednesday’s trade. Thus, the S&P 500, which was up as much as 0.5%, finished just 0.1% higher. The Nasdaq rose just 0.2%, a fraction of its 0.6% intraday gain. Volume expanded on both exchanges, resulting in twin stalling sessions for the key indexes. Stalling is bad. It implies institutional investors sold shares heavily into the market rally, an attempt to disguise their real intent. The stall day pushed the distribution-day count for the S&P 500 up to five. For the Nasdaq, the count remained at five; the March 15 distribution day expired due to time

Big Picture – Thursday April 21 “Market in Uptrend” – Resumed on April 13 from “Under Pressure” Distributions Count – Nasdaq 5 , S&P 6 Nasdaq Flat since April 13. S&P moving up since April 13. Oil and Commodities Stocks Help Drive Rise or Fall Dow Jones rose above 18,000 but fell below today. Checkout Market Charts

What’s Driving the Market? China’s Slower Growth – Demand Europe still struggling Growth –Demand US Stronger dollar –Exports more expensive, Demand, Earnings Oil prices – Jobs, Debt/Bonds/Loans, Countries Foreign Money leaving US Markets & Bonds -Market Company BuyBack Programs supporting Market Elections -??? Earnings and Revenue expected to be Lower

What to do This Month Develop Watchlist Buying Stocks Stocks I Own Set Alerts ( 1-2% below BO point) or Buy “Stop Loss” Buying Stocks Be VERY CAUTIOUS Buying stocks. Earnings started this month Market has been in upswing for 10 weeks. Dip or Correction Possible Seeing Stalling Action Recently Stocks I Own How has your stock been Behaving. Is it a Leader? Shakeout Prone? Have Sell Plans – The Good, The Bad, The Ugly

IBD is Changing Newspaper Going Weekly Monday Only – Both digital and print – No price change Focus is shifting to the Website Significant changes have already occurred More are planned What’s driving these Changes Better Tools/Interface to find Stocks Cost??