S&P 500 (SPY) Sitting on 391.08 10-DMA. Further break could lead to move back to 50-DMA at 385
Russell 2000 (IWM) 219.13 next support area from 50-DMA
Dow (DIA) Watching to hold 328 area.
Nasdaq (QQQ) Failed to hold over …
Written by Mish and Forrest
Wednesday the Federal Reserve stated that interest rates will continue to stay close to zero along with a new estimate for the unemployment rate down to 4.5% instead of 5% for the year.
Additionally, the …
Written by Mish and Forrest
3 of the 4 major indices closed negative on the day.
The Russell 2000 index (IWM) closed at $230.44.
This places it right on new support from February highs.
If IWM cannot hold $230 we …
Written by Mish and Forrest
Cannabis has seen a huge increase this year as the Biden administration took office.
Though it is not completely clear if the Federal government will push for widespread legalization, its last bill to further decriminalize …
Written by Mish and Forrest
Recently we talked about transportation (IYT) and retail (XRT) sectors as indicators for market strength/weakness.
Transportation shows the movement of goods and travel expectations, while retail shows the consumer sentiment side.
Both help us understand …
Written by Mish and Forrest
The market is confused and choppy.
This can be seen by looking at the major indices as most disagree with each other.
This is important because when the overall market moves together it makes trading …
Written by Mish
When looking for stocks that will continue to perform in 2021, we can look at the megatrends that will continue to grow considering the pandemic will be in the rear-view mirror.
On top of the list of …
Written by Mish and Forrest
Monday’s strange price action looks as though the market shrugged off the stimulus money in some areas yet not others.
While there are many factors at play, the most notable shift is in big tech, …
Written by Mish and Forrest
The market has stopped the bleeding with a rally into Friday’s close.
The small caps index Russell 2000 (IWM) held over its 50-day moving average of 213.40.
Additionally, the retail (XRT) and transportation (IYT) sectors …
Written by Mish and Forrest
Wednesday was another disappointing day for the market as many short-term buyers from Tuesday got flushed out in the move lower.
However, with a second down day should we be worried about a potential correction …
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