Media Quote: Gold dips for fifth day; worst week since May
PRECIOUS-Gold dips for fifth day; worst week since May
Stocks Wait For Friday's Jobs Report
Market Action- Market In Confirmed Rally Week 19
It was encouraging to see the bulls show up in November and defend the major averages’ respective 50 DMA lines. The market remains in a confirmed rally 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. However, it is important to note that stocks are a bit extended here and a pullback of some sort (back to the 50 DMA lines) would do wonders to restore the health of this bull market. Put simply, stocks are strong. Trade accordingly. If you are looking for specific high ranked ideas, please contact us for more information.
COMMODITIES- Markets up, rebound from rout on US jobs data
“What’s happening now is the global economic recovery story has become just as important as the dollar story, if not more,” said Adam Sarhan at Sarhan Capital in New York. “That’s the shift we’re starting to see now.”
Stocks Rally on Strong Economic Data
It was encouraging to see the bulls show up in November and defend the major averages’ respective 50 DMA lines. The market remains in a confirmed rally 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. However, it is important to note that stocks are a bit extended here and a pullback of some sort (back to the 50 DMA lines) would do wonders to restore the health of this bull market. Put simply, stocks are strong. Trade accordingly. If you are looking for specific high ranked ideas, please contact us for more information.
Stocks Pullback After Monday's Strong Open
It is encouraging to see the bulls show up in November and defend the 50 DMA lines for the major averages. The market remains in a confirmed rally 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. However, it is important to note that stocks are a bit extended here and a pullback of some sort (back to the 50 DMA lines) would do wonders to restore the health of this bull market. Put simply, stocks are strong. Trade accordingly. If you are looking for specific high ranked ideas, please contact us for more information.
Strong Start to 2011!
It is encouraging to see the bulls show up in November and defend the 50 DMA lines for the major averages. The market remains in a confirmed rally 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. However, it is important to note that stocks are a bit extended here and a pullback of some sort (back to the 50 DMA lines) would do wonders to restore the health of this bull market. Put simply, stocks are strong. Trade accordingly. If you are looking for specific high ranked ideas, please contact us for more information.
US Stocks Rally Into New Year, Boosted By Data; DJIA Up 125
“Today’s just a continuation of what we’ve been seeing for the past four months,” said Adam Sarhan, chief executive of Sarhan Capital. He pointed to four primary drivers for the gains: the improving economic recovery, easing worries over euro-zone debt, the Federal Reserve’s stimulus program, and optimism for U.S. companies’ fourth-quarter earnings reports.
“If we do have a strong Q4 earnings season, it’s going to bode well for equity markets in the near future,” Sarhan said. He noted Deutsche Bank’s upgrade of Alcoa comes a week before the company is set to kick off the earnings season.
Commodities Outshine Stocks in 2010
December 2010 Stock Market Commentary: The major averages surged in December and enjoyed double digit gains in 2010. Furthermore, the 18-week rally which was confirmed on the September 1, 2010 follow-through day (FTD) remains intact which is a healthy sign for 2011. Background: Before we address the current market outlook, it is important to step…
Quiet Action In Last Trading Week of 2010
It is encouraging to see the bulls show up in November and defend the 50 DMA lines for the major averages. The market remains in a confirmed rally 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. However, it is important to note that stocks are a bit extended here and a pullback of some sort (back to the 50 DMA lines) would do wonders to restore the health of this bull market. Put simply, stocks are strong. Trade accordingly. If you are looking for specific high ranked ideas, please contact us for more information.
Holding Pattern Continues As Market Awaits New Year
Before Thursday’s open, the Labor Department said weekly jobless claims fell to the lowest level since July 2008 which was a healthy sign for the ailing jobs market. Last week, jobless claims fell by -34,000 to 388,000, lower than the median forecast of 415,000 according to Bloomberg News. After the open, the Chicago PMI topped estimates and rose to 68.6 which bodes well for the ongoing economic recovery. At 10 AM EST, the National Association of Realtors (NAR) said their pending home sales index topped estimates and rose +3.5% to 92.2 from a downwardly revised 89.1 in October. Pending home sales indicate pending contracts that have yet to be closed. The market barely budged on the news which reiterates our thesis that the major averages are in a tight holding pattern until 2011. However, the recent 4-month rally in the major averages suggests the economy will continue to improve in the first half of 2011 and, barring some unforeseen event, the risk of a double dip recession is temporarily off the table. Normally, the stock market serves as a leading indicator and a great discounting mechanism for the economy.