"No warning can save people determined to grow suddently rich" - Lord Overstone

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Pay Attention to the Next Few Weeks

The next couple of weeks will tell a story. Were the July/August and December/February down-legs the first part of a much larger correction or just a minor correction en-route to much higher prices?

Peak prices in most markets was in the spring/summer of last year.

Dow, Transports, NASDAQ, S&P500 and Russell 2000 Weekly Charts from January 1, 2015

The Dow Industrials and S&P 500 have recovered better than the Dow Transports, NASDAQ and the Russell 2000.

You can watch Doha, the price of crude, interest rates and blubberings from central banks if you are a trader, but they have nothing to do will the long term market. The indices making new highs, or not, will tell the longer term direction. Watching 18,312 on the Dow is a good start.

Dow Jones Industrial Average Daily Chart from January 1,2015 to Date

Sell in May and go away? We'll soon see.

 

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