Similar Posts
Good & Bad For The Week
Good: Initial jobless claims plunged to 255k, easily beating estimates for 279k and hit the lowest level in decades Leading Indicators rose by +0.6% in June, beating estimates for +0.2% gain The Manufacturing PMI Flash index rose to 53.8, beating estimates for 53.7 The Chicago Fed National Activity Index rose to 0.08, beating estimates for…
Stock Market Resistance & Negative (Outside) Reversal Day From Prior Chart Highs
The major averages are tracing out an ominous technical pattern known as a “negative (outside) reversal day” after encountering resistance near their prior chart highs.
Death Cross: Not A Good Day For The So-Called "Risk" Trade
The Dow Jones Industrial Average & The Benchmark S&P 500 index and Nasdaq composite (not shown) are currently retesting their 2010 lows. As long as these lows hold, the current trading range remains intact. However, if the lows are breached, odds favor lower prices will follow. In addition, it is important to note that their 50 DMA lines are about to undercut their longer term 200 DMA lines which, as we now know, is not a “healthy” sign. It is also worrisome to see that other capital markets have hit new 2010 lows which suggests the bears are getting stronger (i.e. EUR/GBP, EUR/JPY, and EUR/CHF are already at fresh 2010 lows).
Complimentary End of Quarter Webcast: Sign Up Here
In just 2 more days, we’ll be reviewing Leading Stocks and how to capture them, the current market environment and what to expect for the road ahead, plus a whole lot more! Register FREE Here. DAY/DATE: Thursday June 30, 2016 TIME: 8:00PM ET DURATION: 1 Hour DESCRIPTION: The course will be taught by ChartYourTrade’s own 20+ year market veteran,…
7 Things That Concern Me About This Rally- Right Now
1. We have come too far too fast. How many times do you remember seeing the SP500 soar 17% in 3 weeks (or know of it ever happening in history)? And the kicker- the move has been on below average volume! Moreover, if the market is to get back to 1370 (2011 highs) by year end- it will have to move 28% from Oct 4- Dec 31. Possible, but probable?
2. Nothing has changed- the “fundamental” mess that sent a slew of risk assets lower over the summer (i.e. US and EU debt issues, anemic economic growth, etc.)- are still unresolved… Everyone (right now) is focused on Greece. However, even if Greece is “handled” it does not address the broader issue: The other PIIGS are broke!
Don’t Be Left Behind!
Always Know Where The Leaders Are!
FindLeadingStocks.com
3. Most bear markets last 18-24 months- not less than 1 day. The S&P 500 officially hit bear market territory on 10/4 (down 20% from its 2011 high) and that lasted for a tenth of a second because that was the exact low for the year (so far). Normally, the 18-24 months allow stocks to reset their bases and paves the way for new leadership to emerge.$SPX: How To Navigate The Unknown
LIKE THIS Post? JOIN OUR FREE NEWSLETTER How To Navigate The Unknown: I can’t tell you what will happen this weekend or how the market will react on Monday (no one can)- but I can tell you that barring some unforeseen event, the tape remains strong right now. Since fear is elevated and many people are…
