Tutor Your Trade

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Tutor Your Trade

Welcome to Tutor Your Trade

Tom Aspray is the driving force behind Tutor Your Trade.  Tom has been analyzing and advising institutions and investors on the financial markets since the early 1980’s.

From his extensive biochemistry research using computers in the late 70’s, Tom envisioned the potential for applying his research techniques to the financial markets.  Through rigorous and methodical analysis Tom developed his own unique methods of computerized technical analysis.  These methods have been taught to financial professionals around the world.

In 1982 Tom became the research director for a financial advisory firm and the early use of professional technical analysis software provided a platform for testing many of the analytical methods that are used by today’s traders and investors. Tom’s work has been highlighted in books by both John Murphy and Stanley Kroll and he is well respected in the financial community for his knowledge and approach to the markets.

For the past 8 years Tom has provided general market commentary through Forbes, Moneyshow and PA Stock Alerts. In Tutor Your Trade, his insights and techniques are available to a select group of traders and investors on a 1-1 basis or you can join in each day to his pre-market analysis session.

Four Sector ETFs That Will Profit In The Months Ahead

Posted by on 6:41 pm in Stock market strategies, Technical Analysis | Comments Off on Four Sector ETFs That Will Profit In The Months Ahead

Four Sector ETFs That Will Profit In The Months Ahead

The further turmoil in the Trump administration and growing controversy in Washington did not stop the stock market from moving even higher last week.  The surge in stock prices over the past two weeks surprisingly has not been accompanied by an increase in the bullishness of the individual investor. According to AAII the bullish % dropped 2.7% to 33.1% while the bearish % rose 4.7% to 32.4%. if the bearish % rises again this week it would be even more surprising. It seems like the horde of bearish analysts that were bombarding my inbox in January have moved to the sidelines. The stock market strength is causing some pain as the Catalyst Hedged Futures Strategy Fund lost $600 million or 15% in just five days as reported by the Wall Street Journal. The loss was tied to an option strategy that benefits from a stable market. The bearish part of this strategy moved further under water as the market again pushed to the upside and the decision was made to limit the losses.  According to Morningstar the fund has done 2% better per year than the S&P over the past nine years. After closing at a new record for six days in a row the Dow Industrials sagged early Friday but rallied late to again close higher. The rally over the past week was confirmed by the technical studies as discussed in the Market Warp section but though the market internals were positive they were not that impressive. What was impressive was the economic data as it indicates that the economy continues to improve. One portfolio manager on the credit side commented that “the real risk… is that the economy runs too hot.” Those who have been pessimistic on the economy for the past few years must be shaking their heads in disbelief. Typically January is not one of the best months as since 1950 the S&P 500 has averaged a gain of 0.79% so last month’s 1.79% gain was the best since the 5% gain in 2013. Of course 2013 was the best year of the bull market as the Spyder Trust (SPY) gained 32.3%. This banner year was preceded by a strong move in the NYSE A/D line in December 2012 as it moved to a new all time high on December 12th (point 1) though the NYSE Composite was still 1.5% below its high. The A/D line made another new high before stocks plunged into yearend over fears of the impasse over the “fiscal cliff”.  The analysis of the A/D had me recommending before the drop that investors   “Stuff Those Stockings with Stocks”. The long-term performance of the S&P 500 in February shows a loss of 0.05% with the S&P up 38 years and down 29 years. In 2013 the S&P 500 was up 1.1% and is currently up 2.9% but of course the month is not over. When it comes to the Spyder Sector ETFs two of the best months are March and April as this chart from CXO Advisory indicates. Their analysis reveals that the energy (XLE) , financial (XLF), materials (XLB)  and consumer discretionary (XLY) have gained between 5-6% in March and April. Let’s look at each of these sectors and their related markets. Crude oil, using data going back to the early...

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Viper ETF Report – February 6, 2017

Posted by on 5:15 pm in Uncategorized | Comments Off on Viper ETF Report – February 6, 2017

Viper2-9-17.compressed

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The Week Ahead: The Charts Won’t Lead You Astray Like P/E Ratios

Posted by on 5:07 pm in Stock market strategies, Technical Analysis | Comments Off on The Week Ahead: The Charts Won’t Lead You Astray Like P/E Ratios

The Week Ahead:  The Charts Won’t Lead You Astray Like P/E Ratios

Last week’s strong stock performance and bullish market internals were consistent with the resumption of the post-election rally. The stock market’s narrow range and the failure to exceed the January highs had put many investors as well as traders on the sidelines. In fact bulls have been hard to find as even the new Dow high at the end of January was not enough to turn many bullish.  This decline in the bullishness was evident from the AAI survey as the bullish % dropped from 46.2% on January 5th to 31.6% on January 26th. In last week’s “Is Bullish Sentiment Now Low Enough?”  the focus was on how the advance/decline lines overall were giving a much more bullish outlook for the markets.  The NYSE, S&P 500 and Nasdaq 100 A/D lines all made new highs on Thursday which confirmed the price action. Despite the new highs the focus of many is on why the market cannot possible go much higher. Articles frequently focus on how high the P/E ratios are from a historic standpoint which is used to argue that stocks are not cheap and that investors should not buy. In January’s article “Wait For Signs Of A Trump Bear Market” I urged investors to wait for signs of a Trump bear market before paying too much attention to any fundamental argument as to  why stocks were topping out.  A correction of 5-10% is always possible but over the past thirty years the majority have been signaled in advance by advance warnings from the A/D lines. There are no such warnings at this time. So what is an investor to buy so that the risk is manageable? In November I pointed out that the monthly chart of the small cap iShares Russell 2000 (IWM) had completed a trading range, lines a and b, that went back to 2013. At the time many were also complaining about too high P/E ratios. Using the width of the formation the upside targets are in the $148-$150 area.  The Russell 2000 A/D line had completed its trading range (lines c and d) in July as it was leading prices higher. The initial yearly pivot resistance for the IWM is at $151. Based on the January close a rally to $150 would be a gain of 11%. The underlying Russell 2000 has not made a new high yet but based on last week’s action it could this week. The Spyder Trust (SPY) has initial yearly pivot resistance at $241.28 while PowerShares QQQ Trust (QQQ) has next yearly resistance at $128.73. Viper ETF investors and traders are long IWM, SPY and QQQ  as well as the Vanguard Small Cap Growth ETF (VBK). How about individual stocks? The decline in bullish sentiment was accompanied by a decline in the % of S&P 500 stocks above their 50 day MA. In early January the 5-day MA of this % peaked above 74% but has since declined almost to the mean at 55.2%.  It is well below extreme levels in the 80-90% area. The downtrend in the 5-day MA, line a, was broken in November which was a positive sign. In recommending stocks for the Viper Hot Stocks report I do a weekly and monthly scan of over 150 stocks.  As part of the selection process I carefully...

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Charts Talk: Is Bullish Sentiment Now Low Enough?

Posted by on 5:32 pm in Uncategorized | Comments Off on Charts Talk: Is Bullish Sentiment Now Low Enough?

Charts Talk: Is Bullish Sentiment Now Low Enough?

The inability of the S&P 500 to surpass the late January highs and the tight trading ranges has caused an increase in bearishness among investors and traders.  The White House induced volatility has also not helped. The change in outlook has been confirmed by the sentiment data from the American Association of Individual Investors as 46.2% were bullish the week of January 5th.  Three weeks later on January 26th the bullish % had fallen to 31.6% and it was at 32.8% last week.  This is a decline of 29% in the bullish % from the Trump rally highs. The increased skepticism is also reflected by the increase in bearish commentary in the financial blogs and on the TV financial stations. The fundamentalist analyst has any number of measures to use that convinces them that stocks are too expensive.  A little research however will reveal that many of these analysts have been saying the same thing for many years.  They will eventually be right. Some are warning that the market is looking as vulnerable now as it did during the summer of 2015 and in early 2106. The analysis of the number of stocks advancing versus those that are declining tells a different story. In a strong market more stocks are advancing then declining so the cumulative advance/decline line is rising. As a market is topping, as it was in the summer of 2015, the advance/decline line will be making lower highs even though prices are still making higher highs.  In early July of 2015 the divergence was becoming more pronounced but stocks did not start to plunge until August. The weekly chart of the Spyder Trust (SPY) shows that as it was making a new high the week of July 24, 2015 the S&P 500 A/D line was much lower (line 1). It was also below its declining WMA and five weeks later the stocks plunge culminated on August 24th. As the Spyder Trust rebounded in the fall of 2015 the weekly A/D line made lower highs (line b) as it was weaker than prices. By the end of the year the A/D line had made even lower highs, At the market low in February 2016 both the weekly and daily A/D lines formed higher lows. These bullish divergences along with low bullish sentiment and other bullish technical signs suggested a bottom was being formed. (Is There Blood In The Streets Yet?) Since then the weekly A/D line has stayed above its WMA except for five weeks ahead of the election. It moved back above its WMA the week of November 11th. The A/D line has continued to make new highs, line c, which is consistent with a strong market. The daily A/D lines turn positive or negative ahead of the weekly analysis and in December the Nasdaq 100 A/D line broke its downtrend, line b. Then on December 27th the A/D line made a new all time high (point 1) which signaled that is was going to be a market leader. It was the favorite pick for Viper ETF clients and is up 6.2% YTD. The sharp drop in the A/D line at the end of the year held well above the prior low, forming the basis for the current uptrend, line c. The Nasdaq 100 A/D line...

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Markets To Watch In The Week Ahead

Posted by on 4:49 pm in Stock market strategies, Technical Analysis | Comments Off on Markets To Watch In The Week Ahead

Markets To Watch In The Week Ahead

Interest Rates & Commodities The yield on the 10 Year T-Note rose slightly last week and the lower wage growth in Friday’s job report has more now looking for a rate hike in May. The weekly chart of the inverse iShares Proshares 20+ year Bond (TBT) appears to have completed its correction 4 weeks ago as it dropped down to good support at line b. On a move above the late 2016 high of $42.72 the quarterly pivot resistance (QR) is at $45.25. The weekly OBV bottomed in early November before the election and just pulled back to its rising WMA on the correction. It is acting stronger than prices. The April Crude oil contract was higher last week and the daily indicators are now positive. Still a move above $57 is needed to signal upward acceleration. There is initial weekly support now at $52.40. The gold and gold mining stocks closed the week higher and the weekly studies do suggest that a bottom is in place.  However they are extended so a pullback should be a good buying opportunity. Market Wrap Even though stocks rebounded sharply Friday with the Dow Industrials recording the best day in two months but it still closed the week slightly lower. The Dow Transports were the weakest down 2.1% while the Russell 2000 gained 0.52%. The slightly higher close in the broadly based S&P was a plus as was the 1914 to 1184 positive margin in advancing over declining stocks. According to AAII the bullish % of individual investors rose 1.2% last week to 32.8% and the bearish % was up a bit at 34.2%.  It has been above 30% for three weeks in a row. This is what one would expect during a correction. The CNN Fear & Greed bounced to 60 on Friday up from 51 and is in greed territory. It was 70 a month ago. The Sypder Trust (SPY) spent most of the week trading above and below the 20 day EMA which is now at $227.76. The close was back above the breakout level, line a.  The flag formation has upside targets in the $232-$234 area with the weekly starc+ band at $234.99. There is quarterly pivot resistance at $240 and the yearly projected resistance from a recent Viper Trading Lesson is at $241.26. The S&P 500 A/D line turned up from support at line c (see arrow) and closed well above its WMA.  This reinforced the uptrend and the weekly A/D line closed at another new high. There is first chart support at $226.41 which was the week’s low with further at $225. The broad trading range in the iShares Russell 2000 (IWM) has been in effect since the December 9th high at $138.25.  For the past month I have been pointing out that this is likely a continuation pattern or a pause in the uptrend. It has lasted long enough to turn many negative on the small cap stocks which is quite normal. On the upward completion of the trading range the initial targets are in the $144 area (see arrow) which also corresponds to the quarterly pivot resistance. There is good support in the $133-$133.50 area and the late November highs. The daily Russell A/D line has moved back above its WMA and needs to...

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Are These Two ETFs Joining The Party?

Posted by on 11:03 pm in Stock market strategies, Technical Analysis | Comments Off on Are These Two ETFs Joining The Party?

Are These Two ETFs Joining The Party?

It was not surprising that stocks sold off on Monday morning after a tumultuous weekend. What was interesting was that as the major averages were making their lows for the day the NYSE advance/decline numbers revealed that there were not that many more sellers than there were buyers. By the close of trading, even though the S&P 500, Dow Industrials and NYSE Composite closed the lower there were more advancing then declining stocks. This was a positive sign that hinted at the market’s strength on Tuesday. The financial media has turned more cautious on the stock market in January and last week according to AAII the bullish% dropped 6.6% to 37% consistent with waning enthusiasm over the Trump rally.  I think this may change this week as Tuesday’s action, with almost 3-1 positive market internals, indicates that the election rally may be ready to continue. As the Spyder Trust (SPY) has been moving sideways and the iShares Russell 2000 (IWM) has been declining some ETFs have had nice gains.  The weekly relative performance analysis from Viper ETF has been positive since last November for both the SPDR S&P Metals & Mining (XME) and First Trust Dow Jones Internet (FDN). They are up 8.8% and 6.1% respectively in 2017. In Tuesday’s trading there were strong moves in both the iShares US. Home Construction (ITB) and SPDR S&P Homebuilders (XHB) but are these two ETFs now on the verge of becoming market leaders? The SPDR S&P Homebuilders (XHB) has an expense ratio of 0.44% with 44 holdings. There is over 61% in the top ten with over 23% in D.R. Horton (DHI) and Lennar Corp (LEN ) that were both sharply higher on the day. The weekly chart of ITB shows there is weekly resistance in the $30 area, line a.   A strong move above this level will project a rally to the $33-$35 area. ITB traded in a tight range for the previous four weeks as it held the 20 week EMAS which is now at $27.70. These are often good buy setups. The weekly relative performance has broken its downtrend, line b and a close this week above the late 2016 high will complete the bottom. The weekly OBV is just barely above its WMA but volume Tuesday was double the daily averages. The daily OBV (not shown) does look strong and has broken out of its recent trading range. The SPDR S&P Homebuilders (XHB) has an expense ratio of 0.35% with 35 holdings. The largest are Whirlpool (WHR), Mohawk Industries (MHK) and Home Depot (HD).  This ETF has positions in many of the homebuilders but also contains a wide range of home furnishing stocks. XHB also gapped higher Tuesday and closed above the daily starc+ band. The December high is at $35.54 and the weekly starc+ band at $36.75. The resistance from 2015 is at $38. The daily RS has moved strongly above its WMA and is now close to its downtrend, line e. The daily OBV has moved above its downtrend, line f, on Tuesday as volume was well above average. The weekly OBV is positive as it is above its WMA. Summary:  On Tuesday the iShares Russell 2000 (IWM) closed strong Tuesday and a close above $137 will indicate its correction is over. This will provide...

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The Week Ahead: Markets To Watch

Posted by on 4:31 pm in Stock market strategies, Technical Analysis | Comments Off on The Week Ahead: Markets To Watch

The Week Ahead: Markets To Watch

This is a continuation of yesterday’s The Week Ahead: The Reagan Markets and it focuses on the markets to watch in the week ahead. Interest Rates & Commodities The yield on the 10 Year T-Note rose 0.87% last week after yields had declined for a month. There is more important support for yields at 2.20% (the yearly pivot) and the 20-week EMA at 2.185. The decline in yields has been part of the reason that bank stocks have been moving sideways for the past month. The weekly MACD is still clearly positive and shows no signs yet of a top.  The close last week above the prior week’s doji high has triggered a weekly buy signal. Crude oil prices were barely higher last week but did hold above the prior week’s lows. The weekly OBV is still positive but a strong close now above the $54.32 is needed to turn the daily analysis positive. This would signal that the overall uptrend has resumed. Gold prices have rallied sharply but while the weekly OBV on the SPDR Gold Trust (GLD) has not turned positive it does look stronger on the VanEck Vectors Gold Miners (GDX). A pullback in GDX therefore may create a good buying opportunity. Market Wrap A majority of major averages, except the Dow Transport and Utilities, did close the week lower.  The small cap Russell 2000 was hit the hardest as it was down 1.47% while the S&P 500 lost just 0.15%. The declining stocks led the advancers last week with 1868 down and just 1222 up. The bullish sentiment according to AAII dropped 6.6% last week to 37% while the bearish % rose 5.7%. This is a positive sign for the market. The VIX declined sharply last week as maybe the recent put buyers that have been publicized in the press are now getting nervous. The VIX has short-term resistance not at 13.28 but a close above 15, line a, is needed to complete a short-term bottom.  This would be consistent with a further correction. The iShares Russell 2000 (IWM) made lower lows last week but it held just above the $133 level. The quarterly pivot and stronger support is at $129.52 with the clearly rising 20-week EMA at $129.16.  The major breakout level and very important support is in the $125.80 area, line a. The weekly Russell 2000 A/D line confirmed the early December high but has since been correcting. It is well above its WMA and the major support at line c. The daily A/D line (not shown) is still below its WMA and is in a short-term downtrend. This does allow for a further correction. The Spyder Trust SPY) was higher Friday but still lower for the week as it held above the prior week’s low at $224.96. There is more important support at the late December low of $222.73 with the quarterly pivot at $220.08. Initial resistance stands at $227.40-$227.75 with the daily starc+ band at $229.44. The daily S&P 500 A/D moved back above its WMA on Friday and unlike the Russell A/D line is now in a short term uptrend, line b.  The weekly A/D line is holding near the all time highs and its WMA is still rising strongly. The analysis of the Nasdaq 100 A/D line continues to...

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The Week Ahead: The Reagan Markets

Posted by on 4:04 pm in Uncategorized | Comments Off on The Week Ahead: The Reagan Markets

The Week Ahead: The Reagan Markets

As the new president officially is sworn in the stock market is holding on to half of its early gains  as of 1:00 PM New York Time.  The background and experience of the president is much different than any other in modern history. Many Republicans would like to compare him to President Reagan as they view it has the gold standard for Republican presidents. Other than their background in the entertainment industry there are many differences that they bring to the table. Nevertheless Reagan’s election did shake up the political landscape in 1980. Some are hoping that the stock market will match the 113% gain the S&P 500 had during Reagan’s two terms.  It is likely many of you were not in the markets thirty-six years ago so I thought it might be informative to take a technical look at the Reagan markets. Many things were different in the 1980s especially interest rates. The chart shows that 10 Year T-Note yields were in a gradual up trend in 1977 through 1979 but then surged in late 1979 from 9.34% to a high of 13.75% in February 1980. Because of increasing inflation Fed Chairman Paul Volcker had started to raise rates.   As the shaded period indicates the US economy officially entered a recession in January 1980. Just four months later yields had dropped back to 9.63% in June as the economy improved and the recession ended,  But then rates started to rise once more.  As the 1980 election was taking place yields were back above 13% as they peaked in October 1981 at 15.75%. The support on the yield chart going back to 1980, line a, was broken in November 1981 and yields quickly dropped back to 13%. It was the violation of this support, line b, in August 1982 that completed the top in yields and started the thirty-four year bull markets in bonds.  The recession was officially over in October 1982. The S&P 500 closed before the election at 129.04 and sixteen days later it had a high of 141.96 which was a gain of 10%.  The S&P tried to rally in early 1891 but this rally failed and the S&P 500 continued to form lower highs. The NYSE advance/decline line  moved above its WMA  in May 1980  and started a very strong uptrend. It peaked in September (point 1)  and when the S&P 500 was making a new high in November the A/D line formed a negative divergence at point 2 as it just rallied back to its flat WMA.  It subsequently dropped below the prior low which confirmed the negative divergence. The A/D line moved back above its WMA in March but failed to move above the November a high which was a sign of weakness. The A/D line formed a lower high again in June (line a) before it started to drop sharply.  The drop below the key support (line b) came just before a three week rally, line 3, which set the stage for the sharp six week plunge. The A/D line formed lower highs in 1982, line c, which was consistent with a bear market.  At the August 1982 low the S&P 500 has dropped 28%. The NYSE A/D line moved above its WMA on August 20th and four weeks later it overcame...

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Transports: Topping Or Not?

Posted by on 8:03 pm in Uncategorized | Comments Off on Transports: Topping Or Not?

Transports: Topping Or Not?

The stock market was lower in early trading Tuesday which supported the view of some that the Trump rally was over.  By the close the Spyder Trust (SPY) was down just 0.35% and the NYSE advance/decline numbers were only slightly negative with 1354 up and 1657 down. The daily A/D lines that were reviewed last week are still holding above support and have not moved into the corrective mode by dropping below the late December lows.  Furthermore the Nasdaq 100 A/D line closed very strong last Friday as it has accelerated to the upside (see chart) The earnings for CSX Corp (CSX) after the close had many wondering whether the major rally in the Dow Transports was over. The iShares Dow Transportation (IYT) was down 1% on Monday but is up 14% over the past three months.  This is in contrast to the 7% gain in the Spyder Trust (SPY) but what is next technically for the Dow Transports? The yearly pivot analysis, that was very accurate for the SPDR Dow Industrials and iShares Russell 2000 (IWM) shows that the yearly projected high for IYT is at $184.52 with the yearly pivot at $149.11.  The 2016 close was well above the 2016 pivot at $140.49. The iShares Dow Transportation (IYT) is down over 4% from the December 9th high at $170.79.  The week ending January 6th IYT formed a doji and a weekly doji buy signal was triggered with last Friday’s close. The quarterly pivot is at $158.56 with the rising 20 week EMA at $156.33 and the starc- band at $155.76. The relative performance analysis (RS) reveals that IYT completed a bottom last fall versus the SPY indicating that it was a new market leader. The weekly RS has pulled back from the December high but is still well above its WMA. It has converging support at lines b and c. The weekly on-balance-volume (OBV) has held up very well after breaking through the major resistance, line d, in November. The OBV is well above its rising WMA and shows no signs of a top. The daily chart of iShares Dow Transportation (IYT) shows a fairly orderly pullback from the December highs with the flattening 20 day EMA at $164.01. The recent low is at $161.58 with the 38.2% Fibonacci support from the October high at $159.54. The monthly pivot support is at $159.52. There is short-term resistance at $165.91 and a move above the last major swing high at $167.73 (see arrow) should confirm that the correction is over. The daily RS (relative performance) is trying to bottom out but needs to move above last week’s high. The daily OBV is holding above its WMA and the support at line e. If it this daily support is broken and the OBV starts a new downtrend it will signal a deeper correction. Summary:  The financial media is coming up with many reasons why the transportation sector will not benefit from Trump’s programs until later in the year.  The technical outlook favors being a buyer not a seller and a bottom could be confirmed in the next week. There is converging support in the $159.50 area.  I will be posting weekly charts of both the S&P 1500 Airlines and Railroads indices later on Twitter. If you like this type...

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The Week Ahead: Will The Market Trump Skeptics

Posted by on 8:01 pm in Technical Analysis | Comments Off on The Week Ahead: Will The Market Trump Skeptics

The Week Ahead:  Will The Market Trump Skeptics

The 184 mid-day drop in the Dow Industrials last Thursday caused a spike in the bearish sentiment as most attributed the decline to the lack of real information in the Trump press conference. It did not take long until the Wall Steet Journal headline “Dow 20000, Maybe Never” emerged. Several of the traders in their regular mid-day appearance voiced concern over the outlook for the banks  which were down sharply in the morning. It had only been a month since there were some who wanted to buy them at any cost. In Wednesday’s technical review I reviewed the positive outlook from the advance/decline lines for both the PowerShares QQQ Trust (QQQ) and the Spyder Trust (SPY). The daily A/D lines do not show any signs yet of a imminent correction.  It would take several down days that were much worse than last Thursday to signal that a correction was underway. To learn more about A/D line analysis read “One Indicator Stock Traders Must Follow”. The daily chart of the PowerShares QQQ Trust (QQQ) shows the strong close Friday with the weekly starc+ band now at $126.44.  The initial yearly pivot resistance at $128.73 is the next target I am watching for traders. The width of the trading range, lines a and b, was upside targets in the $125-$126 area. The daily Nasdaq 100 A/D has turned sharply higher which is a very bullish development.  The A/D line had surged to a new high in December as it overcame the resistance at line c. There were signs in December that the tech sector was going to start leading the market higher. For Viper ETF clients long positions in the QQQ and the Technology Sector (XLK) were recommended in December. The ongoing media debate about the status of the Trump Bump or the post election stock market rally is becoming a prevailing media theme. It reminds me of the monthly debates over what the Fed will do at their next meeting which has been distracting investors for years.  In the past uncertainty about whether the Fed will act or not I believe has kept many investors out of the markets. The goal of my columns as well as my advisory services has always been to help investors gain a greater understanding of the markets.   I firmly believe that those who are willing to do the work can become their own investment advisor. Successful investors learn not to get caught up in the prevailing themes that are often the focus of the financial media. Over the years I have observed that many investors are often impacted by the media and do not act or worse have changed their strategy because of the headlines.   This is what happened during the severe market corrections in 2010 and 2011 when many were warning of another recession. The concern that the Trump rally will fail in my opinion is just a new addition to the wall of worry that has kept many investors out of the stock market.  In February of 2016 there were even more reasons to stay out of stocks  which I outlined in  “Should Investors Ignore “The Wall of Worry”?. It is my view that the tremendous surge in optimism after the election will have a lasting impact in 2017 even though reality...

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