Market Comment

Milestones

As I write today, the Dow Jones Industrial Index and the S & P 500 Index are busy climbing a painfully slow wall of worry, inching toward their important millenium record highs set early in the year 2000. At the same time, gold is about to slam into $700/oz. U.S. on the upside, and U.S. short term interest rates (2 year) are reaching for round-numbered resistance at five percent.

So far, my unique price momentum models are not raising alarms, but things can happen quickly when market indicators from a variety of disciplines run into resistance in unison. I'm paying attention.