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Trader Talk With Art Cashin 3.11.10
Art Cashin, head of floor operations at UBS, has the buzz from the NYSE.
A Near Term Top & The "V" Word Has Returned To Wall Street
Read here: https://www.forbes.com/sites/adamsarhan/2017/06/29/a-near-term-top-the-v-word-has-returned-to-wall-street/#5d72016e1ebd
Reuters: Wall Street to open flat as ADP jobs data boosts rate hike odds
Wednesday, March 08, 2017 9am EST U.S. stocks were set to open little changed on Wednesday after a better-than-expected private sector hiring pointed to a healthy labor market, making an interest rate increase by the Federal Reserve next week near certain. The report is seen as a precursor to Friday’s more comprehensive nonfarm payrolls data,…
Adam Sarhan Reuters Gold Quote
“Once the 50-day average is broken on a weekly basis, it a first sign of weakness and that the trend may be changing,” said Adam Sarhan at Sarhan Capital.
Negative Reversal From Resistance; Stocks Give Back Earlier Gains
Heretofore, the action since this rally was confirmed on the September 1, 2010 follow-through day (FTD) has been strong but the market action has been wide-and-loose which is not a healthy sign. The S&P 500 sliced below its two month upward trendline (shown above) which is not ideal. The next level of support for the major averages is their September highs, then their respective 200-day moving average (DMA) lines while the next level of resistance is their respective April highs. We have enjoyed large gains since the September 1st FTD and over the past two weeks, the tape remains somewhat sloppy. Trade accordingly.
Q3 Commentary: Best September Since 1939!
September 2010 Market Commentary The major market indexes scored a sound follow-through day (FTD) on September 1, 2010 and spent the rest of the month racing higher. This corresponded with a steep sell off in the US dollar and a robust rally in many well-known commodities. The benchmark S&P 500 index and the Dow Jones Industrial…
