Stocks Bounce Back As Dollar Falls

Stocks Bounce Back As Dollar Falls

Byinfo@50park.com

Heretofore, the action since this rally was confirmed on the September 1, 2010 follow-through day (FTD) has been strong but the market appears to be placing an interim top here as the major averages consolidate their recent move. The S&P 500 sliced below its two month upward trendline (shown above) which is not a healthy sign. The next level of support for the major averages is their September highs, then their respective 200-day moving average (DMA) lines while the next level of resistance is their respective April highs. We have enjoyed large gains since the September 1st FTD and for the first time, the tape is getting sloppy. Trade accordingly.

Stocks Rally As Dollar Falls

Stocks Rally As Dollar Falls

Byinfo@50park.com

Monday, October 18, 2010 Stock Market Commentary: Stocks rallied as the US dollar fell and the latest round of economic and earnings data hit the wires.  Volume patterns remain healthy as the major averages continue their 8-week rally. Healthy volume patterns are important because they suggest large institutional investors are aggressively buying, not selling, stocks.  …

7-Week Rally Continues!

7-Week Rally Continues!

Byinfo@50park.com

So far, the action since this rally was confirmed on the September 1, 2010 follow-through day (FTD) has been very strong and stocks are simply pausing to consolidate their recent gains. It was encouraging to see the bulls show up and defend support (formerly resistance) in recent weeks. The next level of support for the major averages is their September highs, then their respective 200-day moving average (DMA) lines while the next level of resistance is their respective April highs. Trade according

Stocks Drift Lower On Foreclosure Woes

Stocks Drift Lower On Foreclosure Woes

Byinfo@50park.com

Market Action- Confirmed Rally:
So far, the action since this rally was confirmed on the September 1, 2010 follow-through day (FTD) has been very strong and stocks are simply pausing to consolidate their recent gains. It was encouraging to see the bulls show up and defend support (formerly resistance) in recent weeks. The next level of support for the major averages is their September highs, then their respective 200-day moving average (DMA) lines while the next level of resistance is their respective April highs. Trade accordingly.