Mr. Market Breaks Support and Gets Weaker The bears emerged victorious after another ugly week on Wall Street. A closer look beneath the surface showed a lot of damage occurred. In last week’s report, we mentioned that the tape was split and we were seeing a few important areas begin to roll over. Well, many of those…
Link: http://www.bloomberg.com/features/2016-ev-oil-crisis/
Split Tape Returns As Bulls Defend Support The market, once again, is very split. Gold and a few other commodity stocks (Steel, Energy, etc) are acting very well while many other areas of the market are rolling over or remain very weak (Semiconductors $SMH, Retail XRT, Biotechs IBB, etc). We have now entered the beloved…
Thursday, May 5, 2016 9:45am U.S. stocks traded higher Thursday as higher oil prices supported a more risk-on tone, ahead of the key employment report due Friday. “It’s a little bit of a relief rally … oversold bounce,” said Adam Sarhan, CEO of Sarhan Capital. “You also have a rebound in oil which is very…
Markets | Thu May 5, 2016 9:28am EDT U.S. stocks looked set to open higher on Thursday, after three straight days of losses, as oil prices rose for the first time this week, and investors awaited the monthly jobs data on Friday. Oil prices jumped more than 3 percent as a huge wildfire near Canada’s…
Monday, May 2, 2016 2:37pm U.S. stocks traded higher Monday, the first trading day of the month, with consumer discretionary and consumer staples leading advancers. The Dow Jones industrial average traded about 100 points higher, as Goldman Sachs contributed most of the gains. Apple, the biggest weight on the blue chips index, extended recent declines to…
Sellers Getting Stronger After Tepid Economic & Earnings Data Once again, sellers are showing up, after a 2.5 month hiatus, and putting pressure on several key areas of the market. Short-term, the major indices rallied right into major resistance (prior chart highs) and are now pulling as the pause to digest the strong rally from…
Stocks Stall Below Major Resistance As Earnings Season Begins Stocks opened the week higher but stalled mid-week and closed mixed to lower after sellers showed up in the latter half of the week. Several important areas of the market, that had been leading for months, are now in “pullback mode” as we enter the heart of earnings season….
Markets | Fri Apr 22, 2016 11:25am EDT Wall Street was lower on Friday after a slew of disappointing earnings reports from Microsoft and other major companies eclipsed a surge in oil prices which boosted energy shares. Microsoft was the biggest drag on all three major indexes. Crude rose about 2.5 percent on signs of…
Wednesday, April 20, 2016 9:35am U.S. stocks opened mostly higher Wednesday amid more earnings reports, as investors eyed oil prices ahead of crude inventory data due later in the morning. “We seem to have a fine balance between the tug of war that is crude prices and earnings that are better than worst case scenario,”…