Coming into this week, the setup was called for either a launch pad from Friday’s trading range or that range would become a ceiling. With the gap higher right from the opening bell, the launch pad scenario should set the …
After the big drop last week, Thursday and Friday’s action formed what could become a new base or launch pad as I like to say. Plus, the S&P 500 and the Dow had inside days as well. Basically, two possible …
Not Even Japan’s 7% Drop Could Scare Our Bulls.
Wednesday all 4 stock indexes experienced one of the ugliest reversal days the markets have seen in years. Then overnight, Japan’s equities sunk 7% due to weak economic data in China. …
Our tell, the Small Caps or Russell 2000, had a historical day (the whole market really, but let’s focus on that one). After an inside day, it opened unchanged, took out Tuesday’s high; then after what is nearly laughable contradictory …
Most notable for Tuesday is that the Small Caps or Russell 2000 had an inside day (when the range of the day, high to low, is within the range of the day before). This interprets as a pause, which I …
Monday began with a low volume marginal correction in the indexes and a clear rotation into energy and oil plus a short covering rally in gold. The dollar lost some of its recent strength which certainly helped fuel this rotation …
It didn’t take long to get the answers to our questions concerning how well the market would take a round of lukewarm economic data or whether or not the US dollar would correct and rates rise. Friday made yet another …
Last two days were profit taking opportunities for many longs that were deep in the money. That doesn’t mean one should not be holding onto core positions as today’s “red” day was more of a welcomed respite than a “top”. …
Incredible resiliency remains even if the intraday action had somewhat less sparkle. And, no surprise that today’s leading sectors are my 2013 favorites- all of which seem to like the stronger US Dollar, higher interest rates-Semiconductors, Transportation, Real Estate, Financials …
I wonder how many are caught by surprise that the idea of the Federal Reserve backing away from bond buying and a strong US dollar would lead to the market making yet another new high. Defies logic, some would say; …