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Dave's Daily: Something's on the Wing!

Dave's Daily

By Dave Fry, founder and publisher of ETF Digest and author of the best-selling book Create Your Own ETF Hedge Fund. January 29, 2010

THERE'S SOMETHING ON THE WING!

If you're old enough to remember this Twilight Zone episode where William Shatner tried telling all who would listen that "there was something on the wing" but only he saw it.  The poor way the market's behaving almost seems like something terrible is about to happen and only Mr. Market sees it.  The bottom line is markets are tremendously oversold short-term but aren't responding well to defibrillation (good news from any source).  This is a bad sign.

Friday marked the end of the month where many suggest as it goes so goes the year.  But, last year proved an exception even though February was ugly.

Friday's volume was again heavier than average and breadth was once again negative in all markets.

 

Continue to Major US Markets

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