Another Positive Week On Wall Street

Market Outlook- Market In A Correction:
From our point of view, the market is back in a correction now that all the major averages closed below their respective 50 DMA lines and important upward trendlines. Since the beginning of May, we have urged our clients and readers to be extremely cautious as the major averages and a host of commodities began selling off.
For those of you that are interested, the S&P 500 hit a new 2011 high on May 2, 2011. Two days later, on Wednesday, May 4, 2011, we turned cautious and said “The Rally Was Under Pressure” (read here). Then on Monday, 5.23.11, we changed our outlook to “Market In A Correction” (read here). On Monday June 6, 2011 we pointed out that the S&P 500 violated its 9-month upward trendline (read here) and reiterated our cautious stance. We have received a lot of “thank you” emails for being “spot on” in our cautious approach. We are humbled by your presence and very thankful for your continued support. Looking forward, the next level of resistance for the major averages is their respective 50 DMA lines then their 2011 highs. The next level of support is their longer term 200 DMA lines. If you are looking for specific help navigating this market, please contact us for more information.
Stock Market Research?
Global Macro Research?
Want To Follow Trends?
Learn How We Can Help You!
Stocks Breakout Of Bullish Head and Shoulders Pattern Stocks rallied nicely last week and are once again flirting with major resistance (record highs) after the government reported a stronger than expected jobs report. The bullish fundamental catalyst is that Brexit means more easy money from global central banks and (for now) that is bullish for stocks….
Market Outlook- Rally Under Pressure
From our point of view, the market rally is under pressure which suggests caution is paramount at this stage. Looking forward, the next level of support for the major averages are their respective 50 DMA lines and resistance is their 2011 highs. The rally remains in tact as long as support holds. If you are looking for specific help navigating this market, please contact us for more information.
Wednesday, March 10, 2010 Market Commentary: US stocks ended higher on the tenth anniversary of the 2000 dot-com bubble. Volume, a critical gauge of institutional demand, was reported mixed compared to the prior session; higher on the Nasdaq exchange and lower on the NYSE. Advancers led decliners by a 2-to-1 ratio on the NYSE and by nearly a 2-to-1 margin on the Nasdaq exchange. There were 50 high-ranked…
The benchmark S&P 500 Index currently has 5 distribution days while the Nasdaq Composite and Dow Jones Industrial Average have 4 since the March 1, 2010 follow-though-day (FTD). These distribution days have not been damaging which is a welcomed sign. Trade accordingly.
Monday, March 1, 2010 Market Commentary: Stocks and the dollar rose after the latest round of M&A news was announced. Monday marked Day 16 of the current rally attempt but the market failed to produce a proper follow-through day because the gains fell short of the +1.7% guideline. Volume, a critical gauge of institutional demand, was…