Last night we wondered if the market correction was over?
Afterall, both SPY and QQQs traded into resistance.
In SPY that number is 342. In the QQQs it’s 282.
The DIA had to hold 28,000.
SPY tried to clear 342 …
Is the market correction over?
Although a 10-15% correction is normal, the bigger question is whether the bounce we just saw from recent lows is a sell rather than buy opportunity?
Both SPY and QQQs are trading into resistance.
In …
Written by Forrest Crist-Ruiz
On Friday the 11th the QQQs (Nasdaq) and IWM (Russell 2000) both closed under the 50-DMA. They were not followed by their friends the DIA (DowJones) and the SPY (S&P500).
The temporary divergence they were …
Partly inspired by our recent trip throughout the West, and partly inspired by our long position in Teck Resources Limit (TECK) which gained over 11% on Friday while the SPY closed basically flat, coal is the topic for the weekend.…
Written by Forrest Crist-Ruiz
WIth the SPY, QQQ, DIA, and IWM, closing down on the day, now it’s a good time to check the health of the Economic Modern Family to give us a bigger picture of the market.
Above …
The 50-DMA did its job!
After a perfect touchdown in the NASDAQ QQQs to the 50-DMA at 270, today, NASDAQ gained 2.92%.
All the issues for the tech drop-Softbank, overbought conditions, lack of a stimulus deal, China tensions, vaccine delays, …
Mish’s Daily written by Forrest Crist-Ruiz. Assistant Dir of Trading Education and Research
Last Friday we noted how major symbols (QQQ, IWM, JNK,SMH) bounced off the 50-DMA. Now with the market still undecided, we can build a plan on what …
After 2 major sell-off days, the market bounced late Friday off the 50-day moving average.
Coincidence?
First, why do we care about the 50-day moving average?
The most common inputs for the Moving Average used by traders and market analysts …
As mentioned yesterday, The Big Banks ETF XLF and Regional Banks ETF KRE are two of the weaker sectors.
However, today we saw some money rotate into those sectors with XLF rising over 1% and KRE rising marginally at .4%.…
First off, a huge thank you to Geoff Bysshe for covering for me so I can vacation for 3 weeks!
Before I left, I wrote about 3 major themes to watch continue to emerge or completely reverse.
First was the …
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