Rally Under Pressure; 50 DMA Line Breached

Market Outlook- New Rally Confirmed!
The major averages confirmed their latest rally attempt on Tuesday, August 23, 2011 which was the 11th day of their latest rally attempt. This action suggests a subtle and bullish shift may be on the horizon. 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 FTD 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 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 August’s lows are breached. If you are looking for specific help navigating this market, please contact us for more information.
Tuesday, February 16, 2010 Market Commentary: The major averages ended higher after the latest round of stronger than expected economic and earnings data was released. Volume, a critical indicator of institutional sponsorship, was lower than the prior session on both exchanges which prevented the major averages from producing a sound follow-through day. Advancers trumped decliners by…
Tuesday, October 19, 2010 Stock Market Commentary: Stocks, commodities and a slew of other dollar denominated assets fell sharply on Tuesday after China raised rates and the latest round of economic and earnings data was released. Tuesday marked the 23rd anniversary for one of the largest declines in the history of the stock market. The…
Looking For Leading Stocks? Try FindLeadingStocks.com? (For Under $3/Day Why Wouldn’t You Give It A Try?) STOCK MARKET COMMENTARY: FRIDAY, FEBRUARY 28, 2014 The benchmark S&P 500 (SPX) jumped to a fresh record high on Friday and broke out of an inverse Head & Shoulders continuation pattern (shown above). This is very healthy action considering…
Market Outlook- Uptrend Under Pressure:
The last week of June’s strong action suggests the market is back in a confirmed rally. As our longstanding clients/readers know, we like to filter out the noise and focus on what matters most: market action. That said, the current rally is under severe pressure as investors patiently await earnings season and continue to digest the latest economic data. Until all the major averages violate their respective 50 DMA lines on a closing basis, the market deserves the bullish benefit of the doubt. If you are looking for specific help navigating this market, please contact us for more information.
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Stocks Fall As Earnings Season Begins Stocks fell hard last week as earnings season officially began. It was a volatile and important week because the Nasdaq 100 hit a fresh record high on Monday, then sellers showed up and sent stocks lower for the rest of the week. On Monday, the Nasdaq 100 jumped to a…