Wild Week On Wall Street It was a historic and very wild week on Wall Street with record point moves (up and down) almost everyday of the week. 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 Are Forecasting Another Recession The sellers are clearly in control as stocks, currencies and a slew of commodities plunged across the globe last week. The selling finally spilled over to the major U.S. indices, sending them below very important support levels that we have highlighted repeatedly over the past few months (2,040 in the…
Bulls Defend Support…For Now Stocks ended the week higher after the bulls showed up and defended support. The big news came from China after the government stepped in and devalued their currency to stimulate their slowing economy. The major indices remain range-bound and continue trading in their middle of their 6-7 month sideways trading ranges.The important levels…
Bears Are Getting Stronger The stock market is getting weaker, not stronger. Over the past few months we have been letting our readers know about all the bearish signals that were emerging on our radar. Notwithstanding more easy money from the Fed/other central banks, the market appears to be forming a major top. Leadership has narrowed substantially…
Evelyn Cheng U.S. stocks closed lower on Tuesday as investors eyed further declines in Apple’s stock and slight recovery in oil prices, amid continued focus on the timing of a rate hike. “What we got today was reaffirmation that the Fed would like to raise rates this year, certainly not far from consensus,” said Art…
Bulls Emerge Victorious in July July 2015 was a volatile month as investors had to navigate two potential external shocks (Greece and China) and digest the latest round of economic and earnings data. After all was said and done, stocks ended the week and month higher after successfully testing critical support (bottom of the year-long trading…
Stocks Rally On Greek Deal Stocks rallied nicely last week helping the tech-heavy Nasdaq 100 breakout of its year-long range and hit a fresh 15-year high. The market was able to breathe a collective sigh of relief when the two big threats (Greece and China) were temporarily resolved. Stocks rallied after it became clear that Greece…
Stocks End Week Lower As Greek Drama Continues Stocks fell hard on Monday after it became clear that Greece would default on its debt and literally shut down their entire banking system for the week. Greece missed its latest payment to the IMF and became the first developed nation to default on their debt in modern history….
Stocks End Week Lower As Greek Drama Continues Stocks opened higher but closed lower last week after the latest proposal from Greece was rejected and a slew of historic Supreme Court rulings were announced. Stocks opened higher after Greece announced a new proposal to appease their creditors. The deal was quickly rejected and stocks turned…
Stocks Rally After Fed Meeting Stocks rallied last week after the Fed held rates near zero and created the “perfect hedge” by remaining “data-dependent.” Yellen told us that she is ready to raise rates if the “data” improves but is also ready not to raise rates (and implied that QE4 is not off the table) if the…