Market Has More Upside Ahead Says Market Timer Frank Kollar
March 13, 2009 (FinancialWire) (By Frank Kollar)
Since Tuesday, March 10, the stock market has been in rally mode. Can this be the start of a trend that has staying power?
With extremely oversold conditions, the stock market has been overdue for some upside. But how much higher can it go?
Tuesday’s rally had a breadth surge with 25 to 1 up volume over down volume on the NYSE. This has been a technically bullish indicator in the past. Especially when accompanied by another breadth surge within the next three months.
On Thursday, only two days later, the NYSE had a second such day with 19 to 1 upside volume over downside volume.
By this indicator, we have a rally ahead. How long is in question but for the short term, higher highs appear to be in store for stocks.
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.
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.
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