Strong Week On Wall Street It was another bullish week on Wall Street as the major indices broke above resistance of their 8-week post August trading range. The bulls regained control of this market 3 weeks ago when stocks bounced after formidable support was tested in late September and early October. The big day occurred…
Year-Long Trading Range Continues On Wall Street The year-long trading range we have seen on Wall Street continued as the benchmark S&P 500 pulled back last week after flirting with resistance (the top of its year-long range). Earnings remain front and center as a slew of companies announced their Q2 results. So far, approximately 75%…
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Stocks Fell After Hitting New Highs Last Week After all was said and done, underneath the surface, it wasn’t a pretty week on Wall Street. On Monday, the benchmark S&P 500 hit a new high for the year, then turned lower after several key areas of the market began to fall out of bed. Social media…
Stocks Rally During Heart Of Earnings Season Stocks rallied last week as investors digested the latest round of largely lackluster economic and earnings data. The big winners (so far) from earnings season include: Amazon.com ($AMZN), Netflix ($NFLX), Hasbro ($HAS), Domino’s Pizza ($DPZ), Sketchers ($SKX), Dunkin (Donuts) Brands Group ($DNKN), Google Inc ($GOOG), Microsoft Corp ($MSFT),…
Stocks End Mixed On Tepid Economic Data Stocks ended mixed during the shortened holiday week as investors digested the latest round of weaker-than-expected economic data. The self-described data-dependent Fed will likely err on the side of keeping rates low for the foreseeable future because the “data” remains very weak. The Fed has held rates near zero since…
Stocks Fall As Oil Surges 14% Over Past Two Weeks Stocks fell hard last week as the major averages paused to digest their recent and robust rally. A slew of “leading stocks” (mainly biotech, small-cap and tech stocks) fell hard last week which dragged the major averages lower. In other news, Crude Oil surged over +20%…
Stocks Rally After Fed Meeting Stocks soared last week after the Fed surprised investors and said they are not in a rush to raise rates. The move came as a big surprise because the “consensus” believed that the Fed may begin raising rates in June. Stepping back the action remains very healthy as the S&P…
Stocks Pullback To Consolidate Recent Gain Stocks fell for a third consecutive week as the market pauses to consolidate the latest and very strong rally. As a quick refresher, the benchmark S&P 500 vaulted 7% from Feb’s low of 1980 to Feb’s high of 2119. Remember, in “normal” (non Easy Money) days, a 10% rally for the…
Stocks Pullback To Consolidate Recent Gain Stocks pulled back last week to consolidate the latest and very strong rally. The S&P 500 vaulted 7% from Feb’s low of 1980 to Feb’s high of 2119. Remember, in “normal” (non Easy Money) days, a 10% rally for the entire year was welcomed. So clearly 7% in under…