Trader Talk With Art Cashin 3.11.10
Airtime: Fri. Mar. 12 2010 |
Art Cashin, head of floor operations at UBS, has the buzz from the NYSE.
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Resistance Should Become Support
Market Outlook- Confirmed Rally:
The major U.S. averages are back in a new confirmed rally and broke above resistance of their 6-week base. The benchmark S&P 500 index scored a proper FTD on Tuesday, October 18, 2011, i.e. Day 12, when it rallied over 2% on heavier volume than the prior session. The next important area of resistance is its longer term 200 DMA line. In addition, it is important to note that the bulls scored a victory since many of the major averages closed above their downward sloping 50 DMA lines for the first time since late July! Our longstanding clients/readers know, we like to filter out the noise and focus on what matters most: market action. If you are looking for specific help navigating this market, please contact us for more information.
Stop Losing Money In The Market
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FindLeadingStocks.comAugust 2010's Monthly Stock Market Commentary
This data indicates that Monday, April 26, 2010 appeared to be a very important day for the market because that is the day that most of the popular averages printed their near-term highs and negatively reversed by closing lower from new recovery highs. In addition, after such hefty moves, a 10-18% pullback, if the indices can prove resilient enough to hold their ground near current levels, would be quite normal before the bulls return and send this market higher. However, if the 2010 lows are further breached, then odds will favor that even lower prices will follow. In addition, the downward sloping 50 DMA line undercut the longer-term 200 DMA line for many of the indices which is known as a death cross and is not a healthy sign. Trade accordingly. Never argue with the tape, and always keep your losses small.
Adam in @CNBC: Stocks Close Flat As Dow Fails To Reach 20,000 Ahead of Christmas
Friday 12.23.16 U.S. equities closed mostly flat on Friday ahead of the Christmas holiday, as the Dow Jones industrial average failed again to reach the psychologically important level of 20,000. The Dow closed about 15 points higher, with UnitedHealth contributing the most gains. “This is the last full trading week of the year. The Dow…
Adam Sarhan Reuters Gold Quote
“Once the 50-day average is broken on a weekly basis, it a first sign of weakness and that the trend may be changing,” said Adam Sarhan at Sarhan Capital.
An Easy Way To Beat The Market…
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Stocks Digest Fed Meeting, Retail Sales, & PPI Data
It is encouraging to see the bulls show up and defend the 50 DMA lines for the major averages. 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. Put simply, stocks are strong. Trade accordingly. If you are looking for specific high ranked ideas, please contact us for more information.
