Bulls Gobble Up Stocks On Shortened Holiday Week Stocks are very strong and the fact that they continue to rally and hit new highs, illustrates that the bulls are clearly in control. The Dow jumped above 19,000 and the S&P 500 jumped above 2,200 last week and continued hitting new highs. In the short term,…
Stocks Flirt With Record Highs Stocks are strong. Small and mid-cap stocks led the way higher last week as the small-cap Russell 2000 ($IWM) and mid-cap S&P 4o0 ($MDY) broke out of big bases. For now that is bullish action and illustrates strong appetite from investors of all size. Meanwhile, the popular indices paused to…
Stocks Soar On Trump Victory Stocks are very strong and the fact that they refuse to fall- illustrates how strong the bulls are right now. Last week was a very important week on Wall Street. The bulls stepped in and defended major support (the longer term 200 day moving average line) and erased three month’s worth…
The Tape Is Weak In a normal, non easy money world, we would say the market is tracing out a classic topping pattern and the days are numbered for this bull market. Last week we saw several major global central banks become “less dovish.” That doesn’t mean they won’t announce more easy money if markets…
The Tape Is Getting Weaker The tape remains very split but is getting weaker. This was the 8th consecutive week that the S&P 500 and Dow Jones Industrial average closed below their respective 50 DMA lines. More worrisome for the bulls, the Russell 2000 broke below the neckline of a big double top pattern (see…
The Tape Is Getting Weaker The tape remains very split but is getting weaker. This was the 8th consecutive week that the S&P 500 and Dow Jones Industrial average closed below their respective 50 DMA lines. More worrisome for the bulls, the Russell 2000 broke below the neckline of a big double top pattern (see…
7th Weekly Close Below Important Support The tape remains very split. This is the 7th consecutive week that the S&P 500 and Dow Jones Industrial average are below their respective 50 DMA lines. Major support is October’s low and if that level breaks the next level to watch is the longer term 200 DMA line….
Stocks Fall As Earnings Season Begins Stocks fell hard last week as earnings season officially began. It was a volatile and important week because the Nasdaq 100 hit a fresh record high on Monday, then sellers showed up and sent stocks lower for the rest of the week. On Monday, the Nasdaq 100 jumped to a…
Next Up: Earnings Season Stocks fell last week after the jobs report missed estimates for the second straight month and more and more areas appear to be rolling over/getting in trouble. Around mid-day on Friday, after the Dow was down a little over 100 points, Mario Draghi, head of the European Central Bank, came out…
Stocks End Month Mixed; Quarter Higher Stocks ended mixed in September and higher for the quarter. Volatility, which had been muted since Brexit, jumped last month as stocks traded all over the map. At this point, the big take-away is the Fed (and other central banks) stepped in for the umpteenth time and did their best…