Market guide 2/22/06
Wednesday 02-22-2006
Market Trend?
The Market Forecast for the Dow is currently moving into overbought territory.
The Market Forecast for the NASDAQ is currently mixed with no real sign emerging.
The Market Posture list places many of the indexes at or near resistance while the VIX.X is moving lower again.
Overall we see a slightly overbought to mixed market. This does not mean the markets can not continue to move higher, it only means that we should not be a strong bullish investor at the moment. What does look strong however, is the Russell 2000 index, RUT. These small cap stocks are driving higher and could be an excellent area to focus on.
On Friday I'll show you how to search the small cap stocks to take advantage of their upward moves.
Cheers,
Mike
