MPT Rating (02 Bearish)

13. June 2008 by admin.

Friday, June 13th, 2008; MPT Rating (02 Bearish) 

Today’s bullish CPI reading gave the market the up catalyst we’ve needed, to put the breaks on this market…

The DJIA; gained 165 points today and this is the strong oversold buying opportunity we have been looking at since it struck our anticipated pullback levels, but I am taking this advance with a grain of salt as I know we are in the summer months which tend to be less volatile.  The FED and up coming earnings will be big drivers for the market ahead as we look for signs of a recovery.

The NASDAQ; closed up 50 points for the day, but the bottom line for this market remains the unfilled gaps on the chart…  until those gaps get filled the market will be on a short leash in my opinion.

Today’s MPT (Market Power Trend) Rating, which tells us what “Smart Money” is doing in the market came in at (02) and this weak bearish indicator does not tell us much on a Friday other than the market is bouncing on a support line.  The main thing to consider in this market is the quality of your investment – we have seen many securities oversell, but this does not mean they are all now under valued…  Quality is king and timing is priceless.

As always I recommend investors and traders, be smart, patient, and ever successful.

Posted in Daily MPT Ratings | No Comments »