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*****Market looks like it needs more than this past weekend to pause and rest although the futures look somewhat positive for the moment. There can be several reasons why we may be looking at a moderate to tight rise. Perhaps more investors are beginning to peel profits. Perhaps it's due to the uncertainty of the EU coupled with the strengthening of the $USD. Perhaps also due to the uncertainty of the Middle East's new threats to our security.
It's true that the USA is still the safest place to invest, yet there does not seem to be a strong inflow of funds for the time being. It may change going further into the month, but traditionally, it is also the last month of the 3rd quarter, and earnings season will be again soon upon us. Institutions will be looking for profits to report at the end of the year and positioning into holdings they may have missed or see further positive returns toward the end of the year.
So looking ahead this week, this is how I read the index charts:
Happy Trading, Living and Dancing
Anni
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