Dr. Harry Schiller is a Registered Investment Advisor with the California Dept. of Corporations. He has been owner and editor of the Short Term Consensus Hotline since 1988. For more information, see www.harryschiller.com.Expand

Schiller received his B.A from Stanford. He then got his master's degree at Harvard and later completed his doctorate in applied behavioral sciences at the University of Massachusetts at Amherst. He estimates that in the course of a year, he records or emails about 3,000 stock market reports.Collapse

Unconfirmed highs in the S&P 500 are just another reason to sell.
Now that the index has reached the April 4 target, we'll see if it can take out the April 3 level.
It's not a new low, but it may portend a drop in the S&P.
And the other indices are stalling, too.
Now is not the time to buy, but it’s an increasingly attractive time to sell.
Gaps are being filled and the broader market is outperforming.
The S&P stalled at this key level -- so a true breach here would be a positive sign for the market.
Some bullish non-confirmations may be signaling a low.
Time to buy again as the market collapses to the July 13 gaps.
Trying to reduce risk through an index arbitrage.

Columnist Conversation / Market Updates

| May 21, 2013
| 5:33 PM EDT
Co misses on revenues. Revenue rose (if you can call it that) 0.8% to $1.7 bin. (I was looking for 1.7% y/y rev growth.)...
| May 21, 2013
| 3:46 PM EDT
We added a call spread for NTAP here, not as pricey as the move implies, the chart not looking too bad. I like this for...

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