December 9, 2012
Weekly Market Outlook
By Geoff Bysshe
Last week I received a request to remove the picture associated with that week's Market Outlook from our home page. The request stated that the photo was just too painful to look at! Well, this week's image of a very unique beach is much more pleasing to the eyes as well as a very uncanny representation of how I see the markets on many different levels.
First, no disrespect to dentists, I think last week's picture matched perfectly with both the recent market action (including the week following the picture). It feels like a root canal without anesthesia. To make matters worse, we have our own government's handling of the Fiscal Cliff to blame for it. Remember the days when we longed for a market driven by U.S. news rather than Europe’s troubles? Be careful what you wish for.
This week's image is a beautiful beach in Mexico which happens to be relevant to this week's market action. However, more interesting, the beach is underground! As you can see from the picture on this page, it is completely inaccessible (by foot) from above. I didn't spend any time researching how one actually gets into this hidden oasis, but I did spend time preparing this week's Market Outlook video to see if there were any indications that the equity markets could move higher after all this recent consolidation. I looked at home and abroad.
The research paid off. Global equity markets are often very positively correlated over time periods of several weeks or even months. With that in mind, this week's video will show swing traders and day traders which markets and indexes to watch closely, or even trade, when the SPY, DIA, QQQ, and IWM inevitably break up or down out of their current consolidation patterns.
And if you're an impatient bull, the video will show you how to join the other bulls at the underground beach.
Every week you'll gain actionable insight with:
