Finally! The market is going down!

[kathiel]

I'm glad to see the market going down, as I expect we'll see some good buys before too long.  I'm just watching right now, but may put in some limit orders this week.

[Chahta]

It’s the only way to move forward.

[uncleharley]

My limit order was ignored this morning so I bought some UTF at market. S&P 500 is back above its 20dma.  Taper Talk #2 is guiding my thinking.

[xray]

kathiel,

 The old saying of "Don't believe anything you hear and only 1/2 of what you see" prevails....

Market signals have been "UP" for the last two weeks [neutral before that]....

Live Long and Prosper....

[uncleharley]

The broad market indexes seem to be bullish, however if one still believes in the Dow Theory, the Transports have been struggling and unable to confirm a bull move. However the Daily chart for the Transports does indicate that support is being built at current levels and we may have confirmation by early next week. stockcharts.com/h-sc/ui?s=$TRAN&p=D&b=3&g=0&id=p11713930496&a=414172735&listNum=86
That leaves the Utilities which are pointed down. The daily chart for the Utilities indicates that they should find support at the 865 level. stockcharts.com/h-sc/ui?s=$UTIL&p=D&b=3&g=0&id=p97062766496&a=417146891&listNum=86 Possibly next week. The utility Cefs and ETFs frequently turn up about 1 day after the index. We shall see what happens.

[yogibearbull]

Only Nasdaq Comp & SP500 are making new highs; R2000 is almost there. But DJIA & Transports are not there yet. LINK

[xray]

uncleharley,yogibearbull

 The market laggards are something for us to observe and see [analyze] if any current security in the laggards are "undervalued". There is gold in them hills and we just have to pan for it.... 
 Went through many security evaluations yesterday and did not find anything worth talking about [fully valued]. Appears we will have to keep taking our CapGains and move on....

Live Long and Prosper....

[kathiel]

As you all know, my observation that the market was going down was short-lived. My research also concluded that there aren't really any bargains out there right now.

[uncleharley]

Not to worry. You never said it was going to go down forever.

[FD1000]

Jun 20, 2021 20:47:27 GMT kathiel said:

I'm glad to see the market going down, as I expect we'll see some good buys before too long.  I'm just watching right now, but may put in some limit orders this week.

mmm...future prediction? The SP500 closed today at all-time high.