This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Let's Start a Bull vs. Bear Market Debate!

NEW YORK (TheStreet) -- Two weeks ago four of the five major equity averages set new all-time or multiyear highs and the exception was the Dow Industrial Average which stalled on Dec. 31 after setting its all-time high at 16588.25.

The other major averages continued higher with the Russell 2000 setting its all-time high at 1212.82 on March 4 then the Nasdaq set its multiyear high at 4371.71 on March 6. The S&P 500 and the Dow transportation average set their all-time highs at 1883.57 and 7627.44 respectively on March 7.

This morning the major averages recouped some of last week's losses under the influence of quarterly and semiannual pivots as the 'tangled bowl of spaghetti' continues. Friday's closes were below my semiannual pivot at 16245 on Dow Industrials and my quarterly pivot at 4274 on the Nasdaq, but Friday's close on the Russell 2000 was above its quarterly pivot at 1180.35.

This morning the Dow and Nasdaq recaptured their pivots putting the bulls in control as traders and investors wait for the FOMC Statement following Fed Chief Janet Yellen's first FOMC meeting.

Meanwhile, don't ignore the messages from bonds, gold and the Dow Utilities Average.

The yield on the Treasury 10-year note(2.649%) is down a significant 37.7 basis points year-to-date when most investment strategists have been saying 'avoid bonds'.

The price of Comex gold($1372.4) is up $169.90 the Troy ounce year-to-date when Wall Street told investors that gold would continue to decline in 2014.

The word from most money managers has been to avoid utilities and the Dow utility average is the leading equity average so far in 2014 up 6.5% as investors seek dividends.

Here are my 'buy-and-trade' profiles for three ETFs that trade like bonds, gold and utilities:

iShares 20+Year Treasury Bond ETF (TLT) ($108.52) trades like a stock and its components are Treasuries with maturity dates longer than 20 years. This bond ETF is above its 21-day, 50-day and 200-day simple moving averages converging at $107.25, $106.42 and $106.30. The weekly chart has been positive since the first week of 2014 with its five-week modified moving average is at $107.10 with its 200-week SMA reachable at $109.60.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
GLD $115.00 -0.10%
TLT $126.29 -0.13%
AAPL $126.41 -1.66%
FB $81.21 0.39%
GOOG $575.33 0.34%

Markets

DOW 18,135.72 +38.82 0.21%
S&P 500 2,101.04 +2.51 0.12%
NASDAQ 4,982.8090 +15.6680 0.32%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs