Stocks scored strong gains last week and extended the rally into Monday. Though the news background could hardly be better, we are not inclined to chase the rally. Read More

The recent lackluster reading from our short-term Master Key (+.53) isn’t the only thing that makes me suspect market action will turn sloppy over the next few weeks – perhaps for the rest of the quarter. Read More

Stocks marked time last week. With our Master Key just slightly north of positive at .69, we could be in for more of the same. In other words, at least for the short term, favorable and unfavorable factors remain evenly balanced. In the bullish camp is a strong and strengthening economy in which profits are growing at a 15 to 20 percent rate. Read More

What’s not to like? Key stocks and current growth recommendations from Citigroup to Wells Fargo Bank of New York to Tyco to Tiffany to Intel to a slew of oil and gas companies all made new 12-month highs last week. Moreover, the financials, such as Wells and Citi, which historically tend to be market leaders, are close to all-time highs. Read More

Our short-term Master Key ticked up to 1.83 on the heels of exceptionally strong breadth figures. For the week, advancers outnumbered decliners by a better than 5 to 1 ratio, which was one of the best readings in the past generation. Past breadth surges, comparable or nearly comparable to last week, have been followed without exception by at least two to three weeks of rising prices. Read More

Our short-term Master Key dipped into neutral territory. Its current reading of +.69 indicates that a trading range is most likely over the next several weeks. We indicated last week that a close below 1000 on the S&P 500 would likely indicate a shift to neutral, so no big surprises.  Read More

The week is off to a poor start on the heels of a big drop in the dollar. While there are no promises that the current weakness won’t be the beginning of a small reaction, say 5 to 7 percent, the short-term indicators still favor the bull. Our short-term Master Key is little changed at 2.75. Read More

It was a lackluster week for stocks with the major averages slightly underwater but breadth and the broad market positive. Though volume is lacking and the market “feels” like it is looking for an excuse to correct, the indicators still remain bullish. Our short-term Master Key fell a couple of notches but still remains a favorable 2.88. Read More