Written by Forrest Tuesday, we talked about the Coinbase (COIN) public listing, and how waiting for the dust to settle would be a good plan as there is no prior price action or history to base projections from a technical standpoint. The plan turned out to be correct as Coinbase’s initial rally turned into a selloff for most of its trading day. However, Coinbase will continue to have increased volatility in the coming weeks as
Written by Forrest The Nasdaq 100 (QQQ) has made new all-time highs on the heels of Coinbase direct listing on April 14th. Coinbase is currently the most popular exchange for buying crypto and has attracted a large amount of popularity and hype before it releases as market analysts throw out wildly different estimates ranging from $20 to $100 + billion. When it comes to new stock releases, from our perspective, the best plan is to
Written by Forrest Monday the Economic Modern Family which consists of 1 index and 5 key sectors showed mixed signals as half of the Family closed down for the day. Currently, the Russell 2000 (IWM), Biotech (IBB) and Semiconductors (SMH) are down with Transportation (IYT), Retail (XRT), and Regional Banks (KRE) up on the day. With SMH lingering in all-time high territory, IWM and IBB are the most worrisome of the bunch, as both sit
This week, another sporting event, The Masters, invokes the steep tradition many avid fans anxiously await. Many golfer friends are glued to the TV Saturday and Sunday on Master's weekend. I am not a golfer, but the true talent that we see each year is a testament to practice, training, coaching, and hard work. Like trading, golf is an individual sport, and the victor in each must wrestle with their emotional state of being. It
Written by Forrest Last week’s focus was the Russel 2000 (IWM), Transportation ETF (IYT), and Semiconductors ETF (SMH). IWM has shown us general market direction and sentiment as it contains 2000 small cap U.S companies. IYT is the backbone or demand side of the economy as the U.S opens with the increasing vaccine deployment. Then comes SMH, which has been involved in this year’s tech boom, but also in one of this year’s biggest supply
Written by Forrest The FOMC Minutes report released Wednesday stated little to no change. Rates will stay low until 2023 and the monthly $120-Billion bond buying program will stay in place. The Fed has been hesitant to change any fiscal policy as it has been very attentive to the economic recovery. However, this has worried some investors that believe hefty spending will increase inflation. Currently, the inflation rate is set to rise to around 2%
Written by Forrest Monday, we talked about the momentum in the Transportation (IYT) and Semiconductors (SMH) sectors, which showed strength when compared to the Russell 2000 (IWM). Tuesday, IYT closed near Monday’s low making it a potential bearish engulfing day. Meanwhile, SMH failed to clear resistance at $258.59. Additionally, because IWM (as mentioned on Monday) has weak momentum, the market might need more convincing to move upward. This is where the infrastructure plan could help
Written by Forrest SMH and IYT are the strongest members of the Economic Modern Family as they are both in a bullish phase in price and in momentum. We are measuring momentum based on MarketGauges proprietary indicator RealMotion. RealMotion was designed to show hidden strength/weakness in a security based on momentum. Additionally, the Economic Modern Family was created as an easy way to view the condition of the overall market as well as spot upcoming
I hope you’ve had a great week. From the entire MarketGauge family to you and your family, we wish you a happy Easter (if you celebrate it), and to our Jewish friends, a belated Happy Passover holiday. We are grateful that we get to share freedom, holidays and investment days with you, our extended family of subscribers. Did you know… History has it that in the 16th century Protestant Reformer, Martin Luther took his congregation
Written by Forrest Thursday, both the Russell 2000 (IWM) and the Nasdaq 100 (QQQ) cleared major resistance levels from the 50-day moving average. In many traders/investors’ minds this has opened the bullish flood gates with new highs in view. Additionally, the High Yield Bond ETF JNK is holding over its 50-DMA. In the past we have watched JNK as an indicator for investors risk appetite in the market. JNK moving up/holding supports the market as
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