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Wednesday, February 10, 2010 Market Commentary: Stocks closed lower on speculation that the European Union will not bailout Greece. Volume was reported lower than the prior session on the NYSE and the Nasdaq exchange. Decliners led advancers by a small margin on the NYSE and the Nasdaq exchange. There were 6 high-ranked companies from the CANSLIM.net Leaders List that made a…
Stocks Finally Pullback, Now What? The market is finally pulling back to consolidate its very healthy and very strong advance. Remember, markets do not go up forever and it is perfectly normal (and healthy) to see the market pullback after a very strong rally to consolidate the move. Nice orderly pullbacks are healthy and allow…
Wednesday marked Day 2 of a new rally attempt for the benchmark S&P 500 index but the other major averages have yet to mark Day 1 which is a negative divergence. That said, as long Tuesday’s lows are not breached in the S&P 500, the earliest a proper follow-through day (FTD) could occur would be Friday. However, if at anytime, Tuesday’s lows are breached, then the day count will be reset. What does all of this mean for investors? Simple, the market remains in a correction which reiterates the importance of adopting a strong defense stance until a new rally is confirmed. Trade accordingly.
Monday, March 15, 2010 Market Commentary: The major averages ended mixed as concern spread that China and India may begin seeking measures to curb their robust economies as inflation picks up. Compared to the prior session, volume fell on the NYSE and Nasdaq exchange. Decliners led advancers by a 11-to-8 ratio on the NYSE and by a 16-to-11 ratio…
Friday, August 26, 2011 Stock Market Commentary: Stocks ended higher this week, snapping a 4-week losing streak and confirmed their latest rally attempt on Tuesday when a proper follow-through day (FTD) emerged. From our point of view, the market is simply pausing to consolidate its recent shellacking (15-18% from late July to early August). The major averages are technically…
Market Action- Rally Under Pressure; Week 28
It was encouraging to see the bulls show up and defend the major averages’ respective 50 DMA lines in November, January, late February, and early March. From our point of view, the market remains in rally-mode until those levels are breached. The tech-heavy Nasdaq composite and small-cap Russell 2000 indexes continue to lead evidenced by their shallow correction and strong recovery. If you are looking for specific high ranked ideas, please contact us for more information.
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