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DiscoverGold

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DiscoverGold

Re: DiscoverGold post# 20964

Saturday, 04/22/2017 5:34:34 PM

Saturday, April 22, 2017 5:34:34 PM

Post# of 54865
Mike Burk: Technical Market Report

* April 22, 2017

The good news is:

• The NASDAQ composite (OTC) closed at an all time high last Thursday.
The market had a good week.
New highs increased, new lows remained insignificant and the secondaries outperformed the blue chips.

The negatives

Whether or not last week was the beginning of a new leg up or just a rally in a deteriorating market remains to be seen. Total volume continued to decline.

The positives

New lows remained at non threatening levels.

Seasonality

Average returns for the coming week have been very strong during the 1st year of the Presidential Cycle than average.

Conclusion

The market turned up nicely last week and seasonally the short term future has been strong.

I expect the major averages to be higher on Thursday April 28 than they were on Thursday April 21.

http://www.safehaven.com/article/44225/technical-market-report-for-april-22-2017

• DiscoverGold

Click on "In reply to", for Authors past commentaries

Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Your Due Dilegence is a must!
• DiscoverGold

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