Is The Rally For Real?
September 15, 2006 (FinancialWire) (By Frank Kollar)
After a correction during which the Nasdaq Composite was down 15% and the S&P 500 lost 7%, the stock market is mounting another rally. Prior attempts failed and led to lower lows. Is it different this time?
The advance is powering ahead on increasing volume. Volume is the lifeblood of rallies. The NYSE advance-decline line is at new highs, which was missing in all the prior failed rally attempts. The S&P 500 has surpassed all major resistance levels and stands poised to break out to new highs. The Nasdaq is lagging, but if it breaks above 2237, only ½% above Thursday’s close, it will have closed above a major resistance level.
Yes…it’s different this time. Look for new highs in coming days and a potential new bull rally.
Frank Kollar has been timing the financial markets since 1982, with online service since 1996. He is a dedicated trend timer and his strategies exited the markets before the crash in 1987 as well as the bear market in 2000 through 2002. During the 2000-2002 bear market, his bearish positions resulted in gains exceeding 100 percent, all achieved by trading trends.
Kollar’s research has shown that the financial markets are in tradable trends approximately 80 percent of the time. FibTimer strategies define trends and trade them in both advancing and declining markets. Caring nothing about what newscasters say or what the latest economic indicator predicts, trends are where the profits are, and that is where FibTimer is.
Kollar is editor and chief analyst at FibTimer.com (http://www.fibtimer.com) which offers market timing strategies for S&P and Nasdaq index fund traders, as well as bond, gold, small cap, sector, ETF and stock trading strategies.
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