FKLI - Bulls Have Few Fans -7/22/2013

The market was not moving much for the whole of past week. The MACD stays positive and continue to move up. The DMI is displaying a similar pattern and with the ADX continue to rise. But the Stochastic is still remaining negative and continue to fall. I did not go in and engage any new position as I feel the market seems to be "afraid " of something. I would only engage in new longs position when if the Stochastic turns positive. The contradicting MACD and Stochastic often mean that the market is listless.

But since price is above the top band and with the 2 indicators telling you to buy, it may be aright to buy some but keep a stop at below the top band.

The weekly chart has gathered all the indicators on the bull side as the  Stochastic which was negative last week has finally turned positive this week. Both the MACD and DMI stay positive and the ADX continues to rise .

This market stays unimpressive despite all the hypes of new highs and such. I think it has a lot to do with more and more investors are getting increasing worried about the nation's fiscal management. I personally feel the current most active and hottest sector in our economy begins to look more and more like a Ponzi scheme.