Stock index rally still going strong

I have not updated this blog since the beginning of this rally. Nothing has really changed since my last entry. We are still in what looks like a classic counter-trend rally that many are calling the start of a new bull market. The daily indicators suggested that the path of least resistance was higher over the near term, with the longer trend still decidedly to the downside. I still don’t have any indication when the bear market will resume. The uptrend seems like it is getting frothy, so would expect the downtrend to resume without warning. I would think some profit taking and/or close stops would be in order.

I hope to resume blog updates along with charts soon. I’ve been distracted over the last week or two with a computer project. I decided to put my own computer together. I could not find a ready built system that I liked, at least not for a reasonable price. There are a few mail order places that specialize in multi-monitor trading set-ups. But I was able to research and purchase the exact components that I wanted, and I learned a few things in the process. I read several books on building a computer, as well as many web sites on the subject. And then I spent many hours on NewEgg reading hundreds of reviews on every component in the system. I plugged everything together, pushed the power switch, and everything worked perfectly. My last step is trying to get better cable management. The PC Power & Cooling power supply that I purchased is huge and has many cables coming out the back, and the unused ones need to go somewhere as to not inhibit airflow. Next time I’ll purchase a modular power supply. Other than that, and getting Tradestation enabled on the new machine, I’ll be finished with the project. It has occupied my time and my mind for far too long. But I think the time spent learning will be helpful in the future when I need to repair or upgrade the system. I don’t like relying on computer stores for advice and service. I also saved quite a bit of money. But more important, I have exactly the machine I want. I highly recommend the process. The only tool you need is a screwdriver. And lots of time researching parts.

4 thoughts on “Stock index rally still going strong

  1. Last week the usd/jpy end exactly where it started creating a long doji, indecision. Right now it looks like there will some upward pressure (but probably not past last week’s highs) then I would see some sideways and/or down for both. I will nibble on some shorts on rallys.

  2. The jpy came thru again. Break even stop in place; it can fall as far as it wants now.

  3. But it does not look like there will be follow thru. USD/JPY daily may be bouncing off support. Retest of recent highs likely; stocks will do the same.

  4. That yen is just flirting with a major decision. Stocks hinge on the out come. We have had failure to rally and failure to fall. It is about to resolve that with prejudice.

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