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The More Things Change the More They Stay the Same

By Gary Antonacci


The stock market continues to give conflicting indications of what lies ahead. On the negative front, there have been price breakdowns and a loss of positive momentum across the board in most equity markets. Market internals have looked weak for months now, and there may be some overhead resistance from investors looking to exit at higher prices. The PTI, Dow Theory, and most trend following models have all given sell signals during the past two months. This bull market has lasted longer than is normal.  In addition, the global economy has started to show signs of a possible slowdown.


However, there are just as many positive signs for the stock market. Corporate insider buying has been very strong. Insiders are usually informed buyers. Uninformed public buyers, on the other hand, have been aggressively shorting the market and purchasing puts. This is often a good contrary indicator. The monthly average of ... Log in or subscribe to continue reading.

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