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Short Term February Seasonal Considerations for Nasdaq, SP500, and Russell |
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By John Bougearel
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February 16, 2012
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Last yr, the Nasdaq set a short term seasonal high on Wed Feb 16. It set another short term high on Wed Feb 15 of this year. Notably, the Russell and SP500 did not set their February high until Friday Feb 18 of last year. This means that the SP500 and Russell peaked with a 2 day lag to the Nasdaq last year.
Given that Monday Feb 20 will close another chapter in the Greek financial crisis, another short term high should be expected in the equity complex either on Friday Feb 17 or Monday Feb 20, as that same climactic tension is released back into the market in a manner similar to Wednesday. A correction off a Feb seasonal high should only last a week into Monday Feb 27-Tues Feb 28. Any pullback into the week of Monday Feb 27 should be a dip to buy ahead of bullish inputs from Consumer Confidence Tuesday Feb 28, LTRO II on Feb 29, March 1 ISM and March 1-2 EU Summit, and March 3 ISM Services and March 2 NFP, and Monday Mar 5 ISM S, and Wed March 13 FOMC.
 Click on image to enlarge!
For more from John Bougearel, visit Structural Loginc. |
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