Stocks Rally On More Easy Money Stocks soared in October and enjoyed one of their largest monthly gains in years! As a quick review, the bulls regained control of the market on Fri 10/2/15 after September’s weaker than expected jobs report was announced (additionally, Aug’s and July’s jobs reports were both revised lower). That was a…
Stocks Rally On More Easy Money Easy money from global central banks continues to be the primary driver of this very strong bull market. On Thursday, we saw the European Central Bank (ECB) increase and extend QE (print more money) and then on Friday, China’s central bank cut rates and took other easy money measures to stimulate…
Strong Week On Wall Street It was another bullish week on Wall Street as the major indices broke above resistance of their 8-week post August trading range. The bulls regained control of this market 3 weeks ago when stocks bounced after formidable support was tested in late September and early October. The big day occurred…
Market Flirting With Resistance The bulls are getting stronger and last week was another strong week on Wall Street. Last Friday Oct 2, 2015, we wrote, “Last week was a very big and important week on Wall Street! Stocks opened lower but closed higher for the week after the S&P 500 and Russell 2000 “tested”…
Weak Jobs Report: Good For Wall Street, Not Main Street Last week was a very big and important week on Wall Street! Stocks opened lower but closed higher for the week after the S&P 500 and Russell 2000 “tested” Aug’s low. Aug’s low for the S&P 500 was 1867 and last week’s low was 1871….
By Evelyn Cheng 9:30am EST U.S. stocks opened sharply lower Friday as Wall Street digested a weaker-than-expected jobs report. The Dow Jones industrial average fell more than 200 points in the open, with Goldman Sachs the greatest weight on the index. The Nasdaq composite lost more than 1 percent, with Apple off 1 percent and…
Sideways Action Continues…For Now Stocks fell last week as the major indices continue to move sideways to consolidate their very sharp late-August sell-off. The longer the major indices spend below their important 50 and 200 DMA lines, the weaker the market gets. A new downtrend began when the S&P 500 sliced below 2040 on August 20, 2015….
Bears Are Getting Stronger Stocks sold off hard after the Fed blinked and held rates at zero last week. For months, we have outlined our thoughts as to why didn’t think the Fed would raise rates Most recently, last week we penned a piece citing 10 reasons why the Fed will not raise rates). Going forward, we…
Sideways Action Continues…For Now The market remains in “wait-and-see” mode as it pauses to digest late August’s steep sell-off and waits for next week’s Fed meeting which will conclude on 9/17. For the week, stocks edged higher but closed in the lower half of their weekly range which is a subtle sign that the bears are…
Another Down Week On Wall Street Stocks ended lower last week ahead of the long holiday weekend. On Friday 8/28 we wrote, “Typically, massive sell-offs do not recover overnight. Additionally, massive selloffs followed by record volatility leads to lower, not higher, prices – especially when they occur in aging bull markets. Right now, nearly every major market around…