Friday, November 30, 2012 Stock Market Commentary: The major averages ended higher in November and, as of this writing, have placed a near term low on Friday, November 16, 2012 (Day 1 of current rally attempt) after politicians hinted that a deal would get done for the fiscal cliff. If November’s lows (SPX 1343) are taken…
Here are some simple rules of chart reading that I think anyone analyzing charts should keep in mind. Prices That Fall in to Support Will Bounce at Support Support and resistance are important concepts of chart analysis. Support is a floor price that has been formed by the market over time, it is a low…
Published: Friday, 23 Nov 2012 | 2:34 PM ET Gold futures settled above $1,750 an ounce for the first time in more than a month on Friday, gaining as dollar weakness and options-related buying triggered a technical breakout. After trading slightly higher in early U.S. dealings, gold surged suddenly to above its 50-day moving average, a…
Fri Nov 23, 2012 3:13pm EST * Gold up 1.4 percent to lead commodities higher * CRB index up 0.5 percent to one-month high Nov 23 (Reuters) – Commodity markets rose to their highest in a month on Friday as signs of progress in Greek aid talks and upbeat German economic data pressured the U.S. dollar and elevated raw…
Friday, November 23, 2012 Stock Market Commentary: The major averages rallied during the shortened holiday week as optimism spread that the Fiscal Cliff will be resolved. Technically, the market is simply bouncing from egregiously oversold levels as the major averages still remain in the middle of their 10-week well defined downtrends. Friday marked Day 5 of…
Friday, November 16, 2012 Stock Market Commentary: The major averages ended the week lower as they continue tracing out their 9-week downtrend (series of lower highs and lower lows) helping the bears remain in clear control of this market. It is important to note that the market is “oversold” and due for a bounce. Keep…
Fear and greed drive investor decisions in destructive ways. People want to buy stocks that have been going up for some time because their market performance gives legitimacy to the story. A stock that is falling sharply brings out sellers eager to get out because of their fear that the stock will go lower. You…
Published: Monday, 12 Nov 2012 | 5:52 PM ET Gold moved lower on Monday as a lack of an agreement by euro zone governments to disburse more money to Greece prompted bullion investors to sell and take profits. The metal on Monday largely tracked lower with riskier assets such as the euro after euro zone finance…
By Caroline Valetkevitch and Ryan Vlastelica NEW YORK | Fri Nov 9, 2012 7:21pm EST Nov 9 (Reuters) – Wall Street’s post-election sell-off may gather steam in the coming weeks as worries mount about the looming “fiscal cliff” and technical weakness suggests a possible correction ahead. The benchmark Standard & Poor’s 500 closed below its 200-day moving…
Friday, November 09, 2012 Stock Market Commentary: The major averages sliced below support and continued tracing out their 8-week downtrend (series of lower highs and lower lows) as the bears remain in clear control of this market. It is important to note that the market is “oversold” and due for a bounce. Keep in mind that…