Todd Market Forecast for Tuesday February 11, 2014
Available Mon- Friday after 6:00 P.M. Eastern, 3:00 Pacific.
DOW + 193 on
1600 net advances
NASDAQ COMP + 43 on 950 net
SHORT TERM TREND Bullish
INTERMEDIATE TERM TREND Bearish
STOCKS: Today the stock market got what it wanted. Janet Yellen, in testimony
before Congress, said that she was continuing the policies of Ben Bernanke. I
think that these policies are dumb. Printing money will debase our currency at
some point. They also make it easy for the Government go into more and more
debt. In other words, she's the bartender serving drinks to a drunk. But, we've
said it many times. The stock market is like a prostitute. It likes money and
couldn't care less where it comes from. And of course, that has nothing to do
with our market opinion. See the chart below.
GOLD: Gold was up again. This time $15.
CHART: The market is now getting overbought (arrow). In a bull market, this
isn't all that important, but in a bearish trend, it tends to be a sign of a
short term top. Let's see what kind of market we have. I suspect that we will
move back down.
TORONTO EXCHANGE: Toronto was up 86. S&P\TSX Venture Comp: The Venture Comp
was higher by 12. BONDS: Bonds were down.. THE REST: The dollar was lower.
Silver, crude oil and copper were also up.
BOTTOM LINE: (Trading) Our intermediate term systems are on a sell signal as of
January 13. System 7 We are long from 96.68. If there are more declining issues
than advancing ones at 3:45 EST on Wednesday, sell at the close. System 8 We
are in cash. Stay there on Wednesday.
NEWS AND FUNDAMENTALS: There were no important releases on Monday and there are
none scheduled for Wednesday.
We're on a sell for bonds as of February 5.
We're on a buy on the dollar and a sell for the euro as of December 19.
We're on a buy for gold as of January 23.
We're on a buy for silver as of December 10.
We're on a buy for crude oil as of January 15.
We're on a buy for copper as of February 6.
We're on a buy for the Toronto Stock Exchange as of December 26.
We're on a buy for the S&P\TSX Venture Comp. as of December 31.
We are long term bullish for all major world markets, including those of the
U.S., Britain, Canada, Germany, France and Japan.
A SHORT BIOGRAPHY
Editor and publisher of the Todd Market Forecast, a monthly stock market
newsletter with an included nightly hotline.
News flash. Timer digest ranked us # 1 in gold timing for the year 2011.
Steve has published articles on the stock market in the following publications:
Barron's, Stock Market Magazine, Futures Magazine, The National Educator, and
His stock market commentary is heard on the following stations: CNBC, Bloomberg,
Associated Press Radio, Business Radio Network, CKNW in Vancouver, British
Columbia, KFWB, Los Angeles and ROBTV in Toronto, Ontario.
RANKED # 1 BY TIMER DIGEST
Timer Digest of Greenwich, CT monitors and ranks over 100 of the nation's best
known advisory services. If you have heard of an advisor, it is likely that he
or she is monitored and ranked by Timer Digest.
Once per year, in January, Timer Digest editor Jim Schmidt gives the rankings
for all services monitored for multi year time frames. We were ranked ranked # 1
for the past ten years at the end of 2003, 2004 and 2005. At the end of 2006 we
slipped to #3 and at the end of 2007, we were ranked # 5. Our bond timing was
ranked # 1 for 2007 and 2008. Gold timing was ranked #1 for 1997 and #2 for
2006. For 2010, we were ranked the # 4 long term stock market timer.
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