Daily doji candle signals a possible small pullback to the 12,630 levels which could reach to the 12,480 level before we see further gains. just my two cents.
I also want stocks to go down. Shorted Sp500 futures this week. But I have a bad feeling about this. Bernanke could change the rules of the game any moment.
It’s that time of the month. January is just about in the books and we’re headed full speed into February. According to the Stock Traders Almanac, February is the “weak link in the best six months”. Over the last 12 years February has been a notably poor month for the equity markets. More via STA:
February is the weak link in “Best Six Months”.
RECENT RECORD deteriorating: S&P up 4, down 8, average change –2.4% last 12 years.
Sixth-ranking NASDAQ month in pre-presidential election years average 2.3%, up 7 down 3, #8 Dow and S&P, both up 9, down 6.
Day before Presidents’ Day weekend, S&P down 16 of 19, 11 straight 1992-2002, day after dicey, up 10 of 19.
Many technicians modify market predictions based on January’s market.
