Coming into Monday, we wrote targets on the S&P 500 and NASDAQ 100.
Based on the measured move from the all-time high and the ensuing gap lower (or topping pattern), we shared with you all that the SPY target was …
Written by Forrest Crist-Ruiz
With companies like Pfizer giving possible hope for an end of year vaccine and a recent gap up in IBB (Nasdaq Biotechnology ETF), now could be a good time to keep an eye on newer issues …
Yesterday, we were watching the VXX to gauge fear in the market.
Today it gapped higher and then continued to sell off while the indices gapped lower and began to rise.
Now the QQQs, DIA, and SPY while selling off …
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 Modern Family to give us a bigger picture of the market.
Above you …
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 …
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