Bulls Defend Support -Amid Geopolitical Turmoil Stocks ended slightly lower on the first week of the second quarter but, for now, the bulls managed to defend support. The two “big” market-moving headlines came from the Fed and President Trump. On Wednesday, the Fed released the minutes of its most recent meeting and it showed Fed…
Bulls Defend Support Here’s how the market performed in Q1 (& so far in 2017): DJ Industrial Avg +4.56%, S&P 500 +5.57%, Nasdaq Comp +9.82%, Russell 2000 +2.13%. The title of last week’s article was: Market Tests Support. On cue, the bulls showed up earlier in the week and defended support for the major indices…
First Real Test Of Support Since The Election Stocks fell last week and the major indices are testing support (50 day moving average line) for the first time since the election. The bulls argue that Trump’s pro-growth policies will get passed even if the healthcare bill doesn’t. On the other hand, the bears argue Trump’s…
A Tight Bullish Pattern Is Forming On Wall Street Stocks rallied last week after nearly every major Central Bank in the world continued to err on the side of caution. The big news came from the U.S. Fed when it raised rates by a quarter point for the second time in three months. For the…
Stocks End Snap A 6-Week Win Streak Stocks finally snapped a very strong 6-week win streak as the market finally paused to consolidate the recent and robust rally. Small caps continued to lag and ended lower which is a sign of near term fatigue. The Small-Cap Russell 2000 broke below its 50 DMA line which…
Stocks End Mixed To Mostly Higher As Small Caps Lag Stocks ended mixed to mostly higher for a sixth straight week, literally every week Trump has been in office. Small caps lagged and ended lower which is a sign of near term fatigue. Remember, markets do not go straight up. At this point, it is…
Stocks End Mixed On Trump’s 5th Week In Office Stocks ended mixed to mostly higher on Trump’s 5th week in office. The relentless rally, coupled with the inability for stocks to fall in a meaningful fashion, illustrates how strong the bulls are right now. The more we scan the market and look at leading stocks,…
Friday, February 17, 2017 U.S. equities closed mixed on Friday, but managed another record close, while investors kept an eye on France’s presidential election. “Investors right now continue to shrug off almost all bearish news and continue buying stocks,” said Adam Sarhan, CEO of 50 Park Investments. “Pullbacks now last hours; not days.” “Right now,…
Stocks Rally On Trump’s 4th Week In Office Stocks are up four weeks in a row and have literally rallied every week since Trump took office. The market hit another fresh record high last week as buyers continue to aggressively accumulate stocks. Just to reiterate, this feels like the very early stages of a 1999/1929…
Stocks Rally On Trump’s 3rd Week In Office Stocks are up three weeks in a row and have literally rallied every week since Trump took office. The market closed at fresh record highs as buyers continue to accumulate stocks. Stepping back, this is beginning to feel like the very early stages of a 1999 style climax/blow-off…