Market Summary

The markets have a funny way of reversing themselves over time and going sideways so that it is hard to tell the direction of the market. This week was a good example of that. This last week all the indices followed by the table below were down except gold. As you may recall, an opposite picture occurred just the week before when all the indices were up. What’s up with this? Well, as I mentioned the market came up to the 80 week moving average and the 200 day moving average and made an about face and went the other way. So what we have here is a chage in direction, up one week and down the next. I will be paying attention to the 1 week, 4 week, 3 month, and 1 year perfomance columns to watch market direction and reversals. I believe we have made a reversal here. How far down will we go? We will just have to wait and see. Click on table to enlarge.