Stocks rose again Friday, April 24th, with techs leading and small caps lagging. The S&P 500 and NASDAQ Composite hit new all-time highs Friday. The Industrials did not. This is a potential Bearish divergence like occurred back in 2000 at the inflation adjusted all-time highs. If the Industrials rise above their March 2nd highs, above 18,288, then the uptrend will be confirmed. If that does not happen, it will be a Bearish sign. It only took a quadrupling of the money supply, a hyperinflation that has lifted the cost of almost everything 5 to 10 times what it was 15 years ago, for the NASDAQ to get back to breakeven. If the same hyperinflation that affected pretty much everything (thank you QE's 1 through 4) had affected the NASDAQ, it should be around 50,000 now, not 5,000. In real dollars, this index is lagging severely despite Friday's nominal price achievement.

Our short-term key trend-finder indicators for Blue Chips moved to a Sideways signal April 23rd, as the Purchasing Power Indicator triggered a Buy, at odds with the 30 and 14 day Stochastic Indicators. They remain on a Sideways signal Friday. Our intermediate term Secondary Trend Indicator remains on a Buy Signal Friday, actually falling 3 points (out of a possible maximum 9 points) to positive + 13, needing to decline to negative - 5 for a new Sell. Demand Power fell 1 point Friday while Supply Pressure rose 1, telling us Friday's rise was weak...

Weekend Market Forecasting and Trading Report