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May 2010 Stock Market Commentary
Sovereign debt woes continue to be the bane of this rally. At the end of April the S&P Rating Agency downgraded Greece’s debt to “junk” status, which accelerated the steep sell-off in the euro and sent it down to its 2008 lows! This sparked a world-wide panic sell-off which sent stocks plunging. In addition, Spain and Portugal’s debt was also downgraded which put pressure on a host of capital markets. Italy and Iceland are the two nations which analysts believe are also dealing with ominous debt levels. All of this helped the US dollar enjoy one of its strongest gains against the euro in over a year. Since November, the greenback has rallied smartly and jumped above its 50-day moving average (DMA) and 200 DMA lines. As expected, the stronger dollar sent US stocks and a slew of commodities (i.e. dollar denominated assets) lower as investors continue to debate our economic future.
US Dollar Breaks Down; Euro & Other Currencies Break Out!
The USD broke below multi-year support earlier on Tuesday while the Euro and a slew of other currencies broke out above multi-year resistance. The next level of support for the USD is 79.06 then 78.72. The next level of resistance for the Euro is 1.3966…. Yesterday Legendary Hedge Fund Manager Paul Tudor Jones said: “Macro trading has…
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,…
Apple & Netflix Case Study: Technicals Lead, Fundamentals Lag
Conclusion: Technicals Lead, Fundamentals Lag. The following two case studies illustrate a very important point: The market and individual stocks (i.e. technicals) move months BEFORE the fundamentals move (up or down). The reasons “why” are lengthy and outside the scope of this article. Instead of discussing the “why” we shall focus on the “what.” The reason is…
Richard Donchian's Trading Rules (Father of TrendFollowing)
Richard Donchian’s Trading Rules
March 2010: Market Review
The fact that there have only been a few distribution days (and not very damaging ones, technically) since the follow-though-day (FTD) bodes well for the current rally. It is also a welcome sign to see the market continue to improve as investors digest the latest round of stronger than expected economic and earnings data. Remember that now that a new rally has been confirmed, the window is open to proactively be buying high quality breakouts meeting the investment system guidelines. Trade accordingly. Never argue with the tape, and always keep your losses small
