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Is A Reversal In The Works?

Posted by Eric LeRiche | March 28, 2010 .

Last week, stocks extended to the upside.  But Thursday’s action had the look of a technical reversal. Friday’s session reinforced the outlook for a turn.  That doesn’t mean stocks can’t continue to press higher.  We shall see.  Techs look toppy and gold has been taken down to support.  The bond market also looks very interesting and could hold the key to the next move in stocks.

Stock buyers are complacent, bolstered by Bernanke’s fervor to keep interest rates low and free money flowing.  But the market may say otherwise.  A bust up in rates could change the long-term psychology of the interest rate market.  Will bad news on bonds tip stocks to the downside?  I wouldn’t be surprised.

Good luck

Eric$

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Posted under Financial Markets, Investing Tips, Investor Rules, Stock Market Investing, Stock market news | Comment Like this article? Subscribe to our RSS feed

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