Stocks Are Very Strong The best word to describe this market is: STRONG. Stocks continue to race higher as investors continue to focus on easy money from global central banks. Strong economic data (ex: Friday’s jobs report came in at 255k, beating estimates for 180k) or weak economic data, stocks rally. Strong earnings, weak earnings,…
Strong Month on Wall Street July 2016 will be remembered in the history books as a pivotal and very strong month on Wall Street. The big news was that the Dow Jones Industrial Average and the benchmark S&P 500 both broke out of a very long 18-month sideways trading range and vaulted to fresh record…
Big Breakout On Wall Street The market finally broke out of its very long trading range and the key now is to see if this rally can continue. In the short term, the market is very extended and is way overdue to pullback to digest the recent rally. The benchmark S&P 500 and Dow Jones…
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….
Central Banks Save The Day…Again There really is no playbook for the wild action we are seeing on Wall Street. In the past week alone, stocks were crushed after Brexit and then soared after central banks stepped in and saved the day. Buyers showed up on Tuesday after Mario Draghi (European Central Bank President) said…
Watch Adam on Bloomberg TV – Here Brexit Vote Crushes Markets: Becomes A Bear Stearns Moment, Not Lehman (Yet) We received a record number of emails since Friday thanking us for our cautious stance. Stocks fell for a third straight week and was crushed on Friday after the U.K. decided to leave the E.U. Thankfully,…
Stocks Fell Last Week Ahead of The Brexit Vote It was another tough week for the bulls as the major indices fell 5 of the past 6 sessions and are in ‘pullback’ mode. On June 9th, the market looked strong as the S&P 500 jumped above two important areas of resistance (2111 and 2116) but the…
Watch Adam on Bloomberg TV – Here Stocks Fail At Key Levels of Resistance It was a tough week for the bulls. Stocks opened higher but closed near the lows for the week after failing to stay above key levels of resistance. For the past few weeks, we outlined April’s high of 2,111 in the S&P…
Stocks Resilient After Crummy Jobs Report Stocks opened lower but closed near their highs after the jobs report disappointed and missed estimates by a rather large margin. We have seen this pattern all week, (open lower and close near the highs) which is a subtle but important sign of strength. The Labor Department said U.S….
Stocks Rally Into Month End Stocks rallied for a second straight week as the bulls showed up in the last full trading week of the month. The major indices jumped above their respective 50 day moving average lines and are now flirting with their 2016 high, which bodes well for the current rally. Last week we…