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Video Review of the Indexes 9-20-2009

The market climbed higher once again last week, reaching its best levels since last fall with more persistent upside and relentless strength.

The bulls are flat-out refusing to rest, which has resulted in a continuous bid beneath the market. Every minor dip has been bought, which is frustrating both bulls who want to put cash to work at lower levels and bears who are itching to see a turn lower begin.

The wait continues at this point for a correction, and although the indexes badly need to pause or see some profit-taking, there’s still no technical reason here to turn bearish.  The presence of short-term overbought conditions does necessitate caution on the long side though, and this week that could prove to be of particular importance.

As we head into a brand new week of trading, let’s examine some important levels in the indexes to keep an eye on in the days ahead. That will have the greatest influence on how individual stocks are going to move, so it’s where the trading week begins.

This clip was also posted over on the Trading Videos [1] site (as always), and perhaps you’ve seen it there – but in case you didn’t, I wanted to put it here on the blog for you.

Let me highly suggest clicking the “HD” on the video player and then going full-screen for best quality.

Thanks for stopping by and I’ll see you here soon with more.

Until then… Trade Like a Bandit!

Jeff White

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