Stock Market In A Correction

Bulls Are Down But Not Out: It was a busy week on Wall Street but after everything was said and done, the market closed slightly positive which is a healthy sign for the bulls. It was also encouraging to see the bulls show up and defend the market’s prior chart highs (see below; resistance is…
Market Outlook- Rally Under Pressure:
The major averages confirmed their latest rally attempt on Tuesday, August 23, 2011 which was the 11th day of their latest rally attempt. It is important to note that all major rallies in history began with a FTD however not every FTD leads to a new rally (i.e. several FTDs fail). In addition, it is important to note that the major averages still are under pressure as they are all trading below their longer and shorter term moving averages (50 and 200 DMA lines) and are all still negative year-to-date. Our longstanding clients/readers know, we like to filter out the noise and focus on what matters most: market action. This rally will fail if/when several distribution days emerge or August’s lows are breached. Until then, the bulls deserve the benefit of the doubt. If you are looking for specific help navigating this market, please contact us for more information.
MARKET UPDATE: Stocks End Week Near 2014 Highs- – 5.2.14 In the short term, the market is acting much better as the S&P 500 and DJIA continue to flirt with fresh record highs. Meanwhile, the Nasdaq, Small/Mid Cap stocks continue to lag their peers as biotechs, high-beta, and growth stocks remain under pressure. As previously…
Thursday, December 1, 2011 Stock Market Commentary: Risk assets ended mixed on Thursday after China ‘s factor sector fell in November for the first time in nearly 3 years and investors digested mixed economic data from the U.S. From our point of view, the market confirmed its latest rally attempt on Wednesday, November 30, 2011…
Friday, August 17, 2012 Stock Market Commentary: The benchmark S&P 500 index has rallied in 9 of the past 11 weeks which shows how strong this market actually is. The underlying notion that has helped stocks rally has been further easing from global central banks. Some market participants are hoping that the tepid economic and…
Stocks Perched Near Record Highs As Earnings Season Begins The market was relatively quiet last week as earnings season officially began. The major indices remain perched below record highs as the bulls continue to dominate the landscape. The fact that there remains virtually no selling is a net positive for the bulls. In the short-term,…