STOCK MARKET COMMENTARY: FRIDAY, December 27, 2013 Stocks raced to new highs as the bulls bid prices higher on this shortened holiday week. Starting next month, the Fed will be printing $75B each month instead of $85B, which is still very bullish for stocks. Technically, the action continues to be very bullish as the market…
Friday, March 16, 2012 Stock Market Commentary: Stocks extended their winning streak as the bulls remained in clear control of this market. From our point of view, the major averages confirmed their latest rally attempt on Tuesday 1.3.12 which was Day 9 of their current rally attempt. Since then, stocks have been enjoying a very…
Friday, February 03, 2012 Stock Market Commentary: Stocks and a slew of other risk assets were relatively quiet ahead of Friday’s much anticapitated nonfarm payrolls report. From our point of view, the major averages confirmed their latest rally attempt on Tuesday 1.3.12 which was Day 9 of their current rally attempt. It was also encouraging…
Friday, April 1, 2011 Stock Market Commentary: Stocks enjoyed their best quarterly advance since 1999 which bodes well for the current 2-year bull market. It was encouraging to see a slew of leading stocks and the benchmark S&P 500, Dow Jones Industrial Average, Nasdaq composite, and small cap Russell 2000 index all close and stay above…
Market Action- Confirmed Rally; Week 25 Ends
It was encouraging to see the bulls show up and defend the major averages’ respective 50 DMA lines in November as this market proves resilient and simply refuses to go down. From our point of view, the market remains in a confirmed rally until those levels are breached. The tech-heavy Nasdaq composite and small-cap Russell 2000 indexes continue to lead evidenced by their shallow correction and strong recovery. However, it is important to note that stocks are a bit extended here and a pullback of some sort (back to the 50 DMA lines) would do wonders to restore the health of this bull market. If you are looking for specific high ranked ideas, please contact us for more information.
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It is important to note that the major averages have been steadily rallying since early February and a pullback of some sort should be expected. However, the fact that we have yet to see a modest pullback bodes very well for the bulls. Trade accordingly.