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 …
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. …
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 …
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, …
Written by Forrest
Last Thursday, the retail sector ETF XRT opened near its 50-Day moving average.
It closed with a large range on increased volume which was a good sign of strength.
Though it has not made a decent sized …
Written by Forrest
Last Friday the Russell 2000 (IWM) index and Semiconductors (SMH) cleared their 50-Day moving average.
From a technical standpoint this looked as though the rally would continue into Monday.
At least that is what traders/investors were hoping …
Written by Forrest
Mish’s Economic Modern Family is made up of 5 key sectors and 1 index.
Each member has been specifically chosen to help investors/traders navigate the market by giving an easy way to see emerging trends and important …
ETF Summary
S&P 500 (SPY) 385.80 support the 50-DMA
Russell 2000 (IWM) Watching to test the 50-DMA at 220.31
Dow (DIA) Held 320 support.
Nasdaq (QQQ) Needs to stay over 309.
KRE (Regional Banks) Support 50-DMA at 62.82.
SMH (Semiconductors) …
Written by Forrest
Wednesday the Russell 2000 (IWM) confirmed a cautionary phase change with a second close under the 50-day moving average.
A cautionary phase is defined by current price sitting under the 50-DMA with the 50-DMA over the 200-DMA.…
Written by Forrest
Tuesday, the Nasdaq 100 (QQQ) came close to clearing the 50-day moving average at $321.08.
This was the second attempt to clear this moving average with the first attempt happening last week.
Though the QQQs were unable …
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