Posted by: jhamon | July 30, 2009

$ Strong, Oil Weak = Good for Stocks

From dear old MysteryHedgie:

As traders and investors we are always looking for new and actionable information.  That G7 equities held up yesterday despite China stocks and oil plunging, and the $ trading sharply higher, is new and welcome info for stockpickers and most definitely an unexpected bullish development.  Continued Nasdaq strength (NDX/SPX ratio below) is vital for stocks to keep climbing “the wall of worry”;  expect the bears to put up a fight as a firm $ and resistance at the round number of SPX  1000 starts the Dog Days of August.                            

SPX/NDX: Relative Strength in Tech
SPX/NDX: Relative Strength in Tech
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  1. […] market news by jhamon Investor dives in to oil stocks […]


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