Further to my post of January 27th, I'll offer the following Quarterly timeframe charts of the Dow 30, S&P 500, Nasdaq 100, and Russell 2000 Indices. There were impressive gains for this year's first quarter...the Dow's range was 1,067.89, the S&P 500's range was 160.29, the Nasdaq's range was 486.44, and the Russell's range was 111.14...they added to the impressive gains made in 2011 Q4...and all were made with barely a pullback on the current candle. They are, however, now trading at major resistance levels.
It's difficult to imagine that Q2 will duplicate this feat without a pullback, but stranger things have happened! I am, however, mindful of my recent posts, so strong vigilance to be on the lookout for developing weakness is the order of the day/next quarter!
So, as I referenced in my post above, I can report that the first layer of the chocolate cake has been whipped up and baked to perfection...we'll see if the rest of the layers and embellishments get added to complete the cake in order to be ready for serving by this Christmas...it all depends on how hungry the bulls are and whether anything distracts them from this delectable tea party...it's not a cheap cake, so the bulls (a ton of them) will have to open their wallets wide from this point on without reservation/hesitation!
Welcome and thank you for visiting!
The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
* Major World Market Indices * Futures Markets * U.S. Sectors and ETFs * Commodities * U.S. Bonds * Forex
* The content in my articles is time-sensitive. Each one shows the date and time (New York ET) that I publish them. By the time you read them, market conditions may be quite different than that which is described in my posts, and upon which my analyses are based at that time.
* My posts are also re-published by several other websites and I have no control as to when their editors do so, or for the accuracy in their editing and reproduction of my content.
* In answer to this often-asked question, please be advised that I do not post articles from other writers on my site.
* From time to time, I will add updated market information and charts to some of my articles, so it's worth checking back here occasionally for the latest analyses.
DISCLAIMER: All the information contained within my posts are my opinions only and none of it may be construed as financial or trading advice...please read my full Disclaimer at this link.
UPCOMING (MAJOR) U.S. ECONOMIC EVENTS...
* Wed. May 12 @ 8:30 am ET ~ MoM & YoY CPI & Core CPI Data
* Fri. May 14 @ 8:30 am ET ~ Retail Sales Report & Core Retail Sales Report
* Wed. May 19 @ 2:00 pm ET ~ FOMC Meeting Minutes
* Wed. June 2 @ 2:00 pm ET ~ Beige Book Report
* Fri. June 4 @ 8:30 am ET ~ Employment Data
* Wed. June 16 @ 2:00 pm ET ~ FOMC Announcement + FOMC Forecasts and @ 2:30 pm ET ~ Fed Chair Press Conference
*** Click here for link to Economic Calendars for all upcoming events.