Lee <as a technician...look at the monthly and weekly COMPX charts. They look higher >. I have looked at the COMPX charts. I can see a rally, even expect one. I can't see nasdaq 2500 anymore.
I look at everything possible.
1. The fundamentals of the economy for an overall framework.
2. Money flows into and out of the market.
3. The technicals, mostly the charts.
4. Anything else relevant, interest rates, inflation, the dollar, oil prices.
There are hints that the economy is slowing a lot.
The dollar has been weak, putting foreign money at a disadvantage.
Money flows have been anemic and occasionally negative. This latter consideration is especially telling IMO. Money is the fuel for any rallies. No fuel, no rally.
The market has been going sideways for a while and I've been on the sidelines for a while. Just have to see and if I'm wrong, I'll change my mind in a heartbeat.
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