Saturday, September 28, 2013

Weekend Review 09/27/2013

It would be nice if the Clowns of Capitol Hill was a reality television show, but unfortunately it is a very real broadcast where the contestants get to vote off the populace/viewers. With the first DOW component Nike reporting, earnings season has kicked off, however it looks like the clowns are playing kick the can. Yet again a government shut down is being threatened and although this is more akin to powering off an unplugged lap top, there will still be serious ripples in the market. If ever there was a week to have a solid game plan, this would be one of them.


Last week breadth was very stretched on the shortest time frames I follow and that has waned somewhat this week, however the longer term readings remain elevated. Regardless, there is an identifiable headline risk this week that takes precedence. With this increased market risk event on the horizon my game plan for next week is to simply avoid opening new positions and be acutely aware of my current risk level. Market breadth analysis for this week is not so important to my overall outlook.

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