Stocks Bounce As Bulls Quell Bearish Pressure- For Now Stocks rallied last week after the narrative in D.C. shifted toward a tax cut. Technically, as long as Monday’s low holds, this appears to be another short-term and shallow pullback. The major indices are tracing out a new early entry (downward trendline) and a break above…
Summer Pullback Underway The Dow Jones Industrial Average and S&P 500 fell for a second straight week as selling finally showed up and volatility jumped. The tape remains somewhat split: The Dow Jones Industrial Average is out-performing its peers on a relative basis. The Nasdaq Composite and S&P 500 are a little weaker and closed…
Nuclear Tensions Send Stocks Lower – From Overbought Conditions The market fell from extremely overbought levels last week as tensions rose between the U.S. and North Korea. The major indices were extended to the upside and way overdue to pullback. The S&P 500 and Nasdaq pulled back into their respective 50 DMA lines while the…
Stocks End Mixed As Earnings Continue In Droves The market ended higher last week as investors digested a slew of mostly positive earnings and economic data. The big economic news came on Friday when the government reported a stronger-than-expected jobs report. So far, earnings are mixed to mostly higher. Apple (AAPL), Netflix (NFLX), Facebook (FB),…
Stocks End Mixed As Earnings Continue In Droves The market ended mixed last week as investors digested a slew of earnings and economic data. So far, earnings are mixed: Netflix, Facebook, Amazon, and Google reported earnings and Netflix and Facebook are up, but the others are down. Several other well-known stocks reported earnings last week…
Stocks End Mixed As Earnings Season Begins The broader indices ended mixed while small cap stocks tried to breakout last week as earnings season officially began. Just to recap the first full week of earnings, the data is mixed. So far, nearly all of the big banks reported earnings, and nearly all of them, except…
Stocks Rally As Earnings Season Begins Stocks ended higher last week as investors digested a busy week of macro data and earnings season officially began. The big bullish catalyst last week came from global central banks. The U.S. Fed and the European Central Bank (ECB) made dovish comments which prompted buyers to return from a…
Stocks End Mixed To Mostly Higher Ahead of Earnings Season Stocks ended mixed to mostly higher on the first week of the third quarter. Stepping back, the market remains split: tech stocks remain under a little pressure while the Dow Industrials, S&P 500 and Russell 2000 all closed above their respective 50 DMA lines. The…
Nasdaq Traces Out A Big Negative Monthly Reversal The complexion of the market changed considerably in June as fatigue finally set in after a very strong rally. June was littered with a spate of heavy volume down days, especially in tech stocks, which is not ideal for this aging bull market. The biggest negative divergence occurred…
Bulls Defend Critical Support Stocks ended mostly higher last week after the bulls showed up and defended critical support. As we have said since the beginning of June, the 50 day moving average line is the critical line in the sand to watch for the major indices. It was encouraging to see that important level…