The S&P 500 Going Into Next Week

First, here is a chart of the S&P 500



Here are some notes from my trading journal. They are in no order of importance.

-- The trend started in late June is still intact.
-- Daily MACD = +
-- Daily CMF = +
-- Daily OBV = Neutral
-- NYAD and NASDAQ AD = Bearish
-- NY and NASDAD NHNL = Fair
-- Subprime is still a problem.
-- Energy is good
-- Industrials are good
-- Tech to the rescue?
-- Financials are a big problem, and will probably continue in that vein
-- Friday market sentiment = Bearish (contrary indicator)
-- M&A is getting hit with stricter loan terms. But, I think this is more a return to prudent lending terms. Conditions have been incredibly lax and lenders have let borrowers get away with murder.
-- Zach's says earnings are good. Thompson says they're not:

Following a heavy week that saw 125 companies of the S&P 500 reporting, earnings growth for the second quarter is so far pegged at 5.2%, an improvement from 4.2% last week, according to Thomson Financial.

Posted in: market analysis