Stock Market

Breaking to the upside?

I get a broad view of the news everyday just to gauge the mood of the market. This is what I noted today.

We have lots of doom and gloom. No surprise there. But I also note that the tone of the news went from “there are some negatives” to “there are some positives”.

If I had to speculate I’d say that from this point we have a shift in market mood. That jives with the way the stock markets have been trading over the last week.

We’re at a pivot point in the markets and that point may be up. I’ll try to not let my perpetual bear feelings influence my objectivity and let my charts tell me which way things go from here.

Hint?: While I’m on the subject of the markets… Didn’t the last hour of yesterday’s trading seem like a blow-off top?