Stock Market Update

In case you wonder why I choose a Mechanical Investing method (no buying or selling based on “feelings,” just a database sort,) here’s what the market analysis have to say about today (dynamic link, will be out of date after today):

  • 9:00am Still shaping up to be a modestly higher open for the indices as futures indications remain comfortably above fair value. (Translation: We predict the Market will go up today.)
  • 09:40 am : Market makes a second attempt to bounce back from continued consolidation. (Translation: Well, ok, the market went down, but now it’s going up.)
  • 10:00 am : Equities are still on the offensive as nine of ten economic sectors post early gains. (Translation: Market is really going up this time.)
  • 10:30 am : Early morning recovery efforts lose some steam as Dow continues to plummet. (Translation: Dang. We thought it was going up. It’s taking a nosedive big time.)
  • 11:00 am : Stocks try to regain some momentum as another sell-off. (Translation: OK, so the Market went. We knew it all along. Sure hope it goes back up though.)
  • 11:30 am : So much for several days of consolidation creating a sense that stocks are oversold on a short-term basis as the bottom falls out of the market within the last 30 minutes. (Translation: Um, we thought the market was going up but it went down, now it’s obvious it’s really going down. )
  • 12:00 pm : Market is still trying to find some definitive direction midday. (Translation: Well, maybe it’s not going down. Hard to tell.)
  • 12:30 pm : More of the same for stocks as the afternoon session gets underway. (Translation: What the heck was that? Whatever it was, it’s still doing it. Our motto: Nearly As Accurate As Weathermen!)
  • 1:00 pm : Market reverses course within the last 30 minutes and spikes to session highs. (Translation: Woohoo! We were right, it’s going to go up after all!)
  • 1:30 pm : Market extends its reach into positive territory as nine out of 10 economic sectors are now trading higher. (Translation: See? Told ya it was going higher.)
  • 2:00 pm : Not much changed since the last update but market breadth now suggests that buyers have the upper hand. (Translation: The market is going up, neener neener neener.)
  • 2:30 pm : Market is still holding onto the bulk of today’s gains as buying remains widespread across most areas. (Translation: Well, it *looks* like it’s going up.)
  • 3:00 pm : Might it be deja vu? It’s hard to say, but right now, the market is following a similar course from yesterday where it struggled to hold gains. (Translation: Whatever the market’s doing, it’s either exactly like yesterday or it’s not. Market may be headed down like we said all along.)
  • 3:30 pm : Major averages now trade in split fashion and at their lowest levels of the afternoon. (Translation: Nailed it. The market is going both up *and* down!)