Stocks continue to move higher
December 7, 2007
Out of the last 8 sessions, the S&P 500 has closed near its high of the day 5 times and closed higher 6 times. This certainly is a sign of strength. There remains some weakness when we take a look at the new lows continuing to outpace new highs. However, we shouldn’t be risking losing gains because our opinion says this rally is weak. There are gains to be had, albeit small, but we still can grab gains from this market.
AAII study found that bulls took the lead ending this past week at 40.65 while the bears fell to 39.84. This does not come as a big surprised as we followed through and confirmed the most recent rally last week. Remember, it was the IBD 100, IBD 85-85, and IBD New America confirming the new rally.
Comments
Got something to say?
You must be logged in to post a comment.
Reuters Business- Stocks gain as hope rises for stimulus planNEW YORK (Reuters) - Stocks gained on Tuesday as bets rose on the likelihood of a government stimulus package after the release of minutes from the last Fed policy meeting painted a dismal picture of the U.S. economy.
- Home sales tumble to 7-year lowWASHINGTON (Reuters) - Pending sales of existing U.S. homes dropped to a seven-year low in November, data showed on Tuesday, as rising job losses and a deepening economic recession kept potential house buyers on the sidelines.
- German tycoon Adolf Merckle commits suicideBLAUBEUREN, Germany (Reuters) - German billionaire Adolf Merckle has committed suicide, in despair over the huge losses suffered by his business empire during the financial crisis, his family said on Tuesday.
- Stocks gain as hope rises for stimulus plan
- Market Watch
- Apple makes final appearance at MacworldApple Inc. begins its swan song at the Macworld Expo with the absence of Chief Executive Steve Jobs hanging over the proceedings, as the company unveils changes in pricing and copy protections for songs available through its iTunes store.
- Energy Stocks: Exco Resources, Chevron move up as gains continueEnergy stocks get carried higher as crude-oil futures breach the $50-a-barrel level.
- Tech Stocks: Semiconductor stocks lead sector rally; Apple slidesMost technology stocks post gains as the broader market advances on a rally in energy shares.
- Futures Movers: Oil ends lower on economic concerns, after topping $50 a barrelCrude-oil futures close lower for the first session in four after earlier rallying above $50 a barrel, as demand concerns rekindled by downbeat economic data outweigh signals that the OPEC cartel will move forward with production cuts.
- Life insurers jump as market stabilizes, easing capital concernsSAN FRANCISCO (MarketWatch) - Life insurance shares jumped Tuesday, led by Prudential Financial, as capital concerns were eased by the recent stabilization of equity and credit markets.
- Apple makes final appearance at Macworld