Stock Market Trends: No Bull for Oil?

As we noted on August 6th, all of our market indicators are like a 3rd base coach waving us home for the game winning run. Friday’s rally only made his arms wave faster, but obviously our indicators can’t account for ex- KGB agents who are out to prove a point.

Politics, war and peace will most likely be the driving factor for the market’s direction early in the week. If the situation settles down relatively quickly in Georgia, then stocks will have yet another reason to rally, a wider war averted. If Russia and Putin are up to no good are using the current situation as a land and oil grab, as some analysts fear, the situation could escalate and possibly involve the US and NATO, which would be real bad for the markets. Let’s cross our fingers.

Index Technical Analysis

If political events allow, the indexes are poised to go higher.

The Dow is sitting right on its resis