Damn The Torpedoes! Says Market Timer Frank Kollar
April 20, 2007
Full speed ahead? After reaching new rally highs yesterday, the S&P 500 Index (SPX) took a breather today. The Nasdaq Composite Index (COMPX) also pulled back. Where to next?
Although the rally slowed this week, increasing volume on the advancing days has been bullish. On Thursday, with steep declines at the open but only fractional losses at the close, volume was considerably lower which was also bullish.
Unless the market suffers a bearish distribution day, the odds favor higher highs in coming days for the SPX, and a breakout for the COMPQ.
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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any security. Opinions are based on historical research and data believed reliable,
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