Stocks End Week Mixed; Tech Stocks Fall – Again Once again, we are entering a very split tape as investors sold leaders (tech stocks) and bought laggards for the second straight week. The Nasdaq and Nasdaq 100, which were leading the market for all of 2017, fell last week as the Dow Jones Industrial Average…
Big Shift On Wall Street; Investors Sell Leaders, Buy Laggards The market is pulling back from over-bought conditions. Something important happened on Friday, when big investors dumped tech stocks (leaders) and bought laggards (small-caps and other under-performing sectors such as biotechs, retail, and financials, just to name a few). In the short term, last month’s…
Another Record Setting Week On Wall Street The major averages remain exceptionally strong as the market simply refuses to decline in any significant fashion. Comey is set to testify next week and that is the next big wild card for the market. In the short term, last month’s lows are the next level of support…
Another Strong Week On Wall Street Ahead Of The Long Weekend The bulls showed up and sent stocks soaring last week helping the S&P 500, Nasdaq composite and Nasdaq 100 hit fresh record highs. The month ends next week and the end of the month typically, but not always, has a slightly upward bias. One…
Stocks Bounce Back After Mid-Week Sell-Off Last week, the market complexion changed and is a little weaker which means a defensive stance is warranted in the short-term. One of the hallmarks of a bull market is to see the market brush off nearly all negative news and just keep racing higher. Since the election, that…
Stocks End Mixed As Retail Stocks Sink Stocks ended mixed to mostly lower last week as investors digested the latest round of economic, political, and earnings data. The big take-away last week for the market was a slew of retail stocks gapped down after reporting earnings. On a positive note, the Nasdaq and Nasdaq 100…
Stocks End Week Higher As Other Markets Crumble Stocks ended mixed to mostly higher last week as other markets crumbled and investors digested a plethora of earnings. A slew of currencies and commodities fell hard but sellers remained at bay on Wall Street. To be clear, we are still in a very strong bull market…
Stocks Surge In Final Week Of April Stocks surged last week on a trifecta of positive news. First, the French Election came back with a market-friendly outcome. Second, President Trump announced his much-awaited Tax plan. Finally, the long earnings recession is over. Technically, the bulls showed up and defended major support for the indices and…
Stocks Edged Higher Last Week As Earnings Season Begins In Thursday’s pre-market report we noted that the market was ripe to rally, little did we know the Dow would soar nearly 300 points by the close. That’s just the way Wall Street works, when people want to step up and buy, they buy. Conversely, when…
Geopolitical Fears Send Stocks Lower; Metals Soar Stocks ended weaker last week and closed below important near term support (50 day moving average line) as the market continues to digest the very strong post-election rally. Last week was the first time we saw all of the major indices break down and close below their respective…