Stocks, Euro & Commodities Negatively Reverse As Dollar Soars!

Stocks, Euro & Commodities Negatively Reverse As Dollar Soars!

The NYSE Composite Index closed below its 200 DMA line for the third straight session which is not a healthy sign. The Nasdaq Composite and S&P 500 Index did not undercut Monday’s lows which technically means that Tuesday marked Day 2 of their current rally attempt and the earliest a possible FTD can emerge for either index would be Thursday. However, if yesterday’s lows are breached then the day count will be reset. Meanwhile, the Dow Jones Industrial Average has yet to violate last Monday’s low, which means that it just finished Day 7 of its current rally attempt and the window for a proper FTD remains open (unless its 5/10/10 low of 10,386 is breached). What does all of this mean for investors? Simple, the market is in a correction which reiterates the importance of adopting a defense stance until a new rally is confirmed. Trade accordingly.

Day 4: Stocks End Lower

Day 4: Stocks End Lower

Wednesday, February 10, 2010 Market Commentary: Stocks closed lower on speculation that the European Union will not bailout Greece. Volume was reported lower than the prior session on the NYSE and the Nasdaq exchange. Decliners led advancers by a small margin on the NYSE and the Nasdaq exchange. There were 6 high-ranked companies from the CANSLIM.net Leaders List that made a…

Stocks Rally On Disconcerting Economic Data

Stocks Rally On Disconcerting Economic Data

Thursday, January, 14, 2010 Market Commentary: Stocks edged higher after weaker than expected economic data was released. Volume was reported slightly higher than the prior session’s totals on the NYSE and about even on the Nasdaq exchange, which suggested large institutions were buying stocks. Advancers led decliners by nearly a 11-to-8 ratio on the NYSE and by a 16-to-11 ratio on the…