STOCK MARKET COMMENTARY: FRIDAY, FEBRUARY 21, 2014 The market continues acting great considering how weak it was acting just a few weeks ago. The benchmark S&P 500 closed on Friday within a fraction of a percent below its record high (which is very healthy). Meanwhile, it was very healthy to see the Nasdaq, Nasdaq 100,…
STOCK MARKET COMMENTARY: FRIDAY, February 14, 2014 The market continues acting great considering how weak it was acting at the end of January. The benchmark S&P 500 is 0.6% below its record high which is very impressive. So far, this market continues to support our thesis that this is just another pullback within a broader…
STOCK MARKET COMMENTARY: FRIDAY, February 07, 2013 In the short term, the buyers are back in control after what appears to be another shallow pullback in size (% decline) and scope (weeks, not months). The major averages positively reversed for the week (opened lower and closed higher) which is typically a bullish sign. For weeks- we…
STOCK MARKET COMMENTARY: FRIDAY, JANUARY 31, 2013 In the short term, the long overdue pullback is finally upon us. As long as support holds (1767-1772 in the SPX), odds favor this is just another shallow pullback. However, if support is broken, the next level of support is 1729. For weeks- we have written, “In the…
STOCK MARKET COMMENTARY: FRIDAY, JANUARY 24, 2013 There is no easy way to put it- This was an ugly week on Wall Street. The major averages negatively reversed, closed lower, and broke support which is not a healthy sign. In fact, the Dow Jones Industrial Average fell everyday during the shortened holiday week as investors…
STOCK MARKET COMMENTARY: FRIDAY, JANUARY 17, 2013 The S&P 500 ended the week higher and came within a few points of turning positive for the year. The market continues acting very well as it continues consolidating its very strong year-end rally. Remember the bullish fundamental backdrop is still in place for stocks. There bulls are…
STOCK MARKET COMMENTARY: FRIDAY, JANUARY 10, 2013 The S&P 500 ended the week a few points higher as it continues consolidating its very strong year-end rally. The market still looks very strong and a pullback of some sort would be welcomed at some point. Remember the bullish fundamental backdrop is still in place for stocks….
STOCK MARKET COMMENTARY: FRIDAY, January 03, 2013 Stocks negatively reversed (opened higher but closed lower) from fresh record highs on the first two trading days of 2014. The market still looks very strong and a pullback of some sort would be welcomed here. The Fed will now be printing $75B each month instead of $85B,…
STOCK MARKET COMMENTARY: FRIDAY, December 27, 2013 Stocks raced to new highs as the bulls bid prices higher on this shortened holiday week. Starting next month, the Fed will be printing $75B each month instead of $85B, which is still very bullish for stocks. Technically, the action continues to be very bullish as the market…
STOCK MARKET COMMENTARY: FRIDAY, NOVEMBER 20, 2013 The SPX and DJIA surged to fresh record highs after the Fed decided to taper QE by $10B per month. The Fed will now print $75B each month instead of $85B (more below), which is still very bullish for stocks. Technically, the action continues to be very bullish…