Archives: MMM Live: Monday Eve Watch

Watch List for Trading on 6/25/2013

Mish Schneider | June 24, 2013

Here is how perverse one’s mind can be-it almost seemed like Monday’s action was positive-after all; it came back from the intraday lows, got above Friday’s lows in the Dowand other indexes, with decent volume. But then, end of day, the sellers came back with theDow closing beneath Friday’s lows. Once again, if we have anywhere to look for a tangible silver lining, it’s in the small caps or Russell 2000s. That tested but held the May 3rdrunaway

Watch List for Trading on 6/18/2013

Mish Schneider | June 17, 2013

Welcome to pre-Federal Reserve Meeting Week! Monday’s action begins exhibiting characteristics of a split personality. On the one hand there’s the gap higher over fast moving averages with theDow closing up 109 which suggests that Ben and the boys/girls will keep the spigot on. On the other hand, there are the long bonds, which got hit hard readying us for the possibility of higher rates. The price point on the daily charts of all 4 indexes are pretty much smack dab in the

Watch Lits for Trading on 6/11/2013

Mish Schneider | June 11, 2013

The S&P 500 and NASDAQ closed sharply unchanged. Only the small caps firmed (IWM) but never cleared the high from last week. All in all, today was more digestion than a game changer one way or another although the pros and cons are there. Pros: Good volume patterns at the end of last week on positive days, a hold of the 50 simple moving average in the major indices, strong financials as far as bank

Watch List for Trading on 5/28/2013

Mish Schneider | May 27, 2013

After the big drop last week, Thursday and Friday’s action formed what could become a new base or launch pad as I like to say. Plus, the S&P 500 and the Dow had inside days as well. Basically, two possible scenarios will emerge into this week. First, the base remains just that-a base to gather momentum from as all indexes are firmly in bullish phases. Second, the base becomes resistance if the market gaps lower

Watch List for Trading on 5/21/2013

Mish Schneider | May 20, 2013

Monday began with a low volume marginal correction in the indexes and a clear rotation into energy and oil plus a short covering rally in gold. The dollar lost some of its recent strength which certainly helped fuel this rotation into some commodity based instruments. Although the financial sector remains firm, homebuilders, real estate and my darling semiconductors took a rest. Solar stocks also ran up. And in spite of NASDAQ taking a bit of

Watch List for Trading on 5/14/2013

Mish Schneider | May 13, 2013

I want to call this a boring, low volume correction, but really, only some of the sectors and groups did some correcting. The indexes except for a smidgeon red in the DIA and Russell 2000, closed green. In bull markets, it’s not unusual to see corrections in time rather than price. It’s also not unusual to see divergence emerge in the varying groups. For example, Biotechnology, the sweetheart of 2012 and thus far 2013, did

Watch List for Trading on 5/7/2013

Mish Schneider | May 6, 2013

Super low volume digestion day in the indexes after the exciting conclusion to last week may seem like a letdown. The gaps left from Friday in the S&P 500, NASDAQ and the Dow all held up and for further confirmation of a runaway gap, need to continue to hold up. The Russell 2000 made a new high close which could mean that money is rotating back to small cap stocks. The long bonds continued their

Watch List for Trading on 4/30/2013

Mish Schneider | April 29, 2013

Possible double top in S&P 500 or a launch pad to blast off from? That is the type of hesitancy this bull market has created since the end of February. And, for good reasons. First off is the NASDAQ which has yet to take out the 2012 high even with a new 2013 high today. Second is the Russell 2000 which has made lower highs on every rally since the peak in February. Then, there

Watch List for Trading on 4/23/2013

Mish Schneider | April 22, 2013

After last week's emotional bearish dip, we may now be seeing a continuation of this year's bullish trend.  Although the week started off choppy and with relatively light volume, all fours indexes held or broke through key points. It seems like this roller coaster that we are on may now be going uphill.  The S & P 500 and Dow Jones Industrial Avg. both tested the 50 DMA and then had nice bounces off of

Watch List for Trading on 4/16/2013

Mish Schneider | April 16, 2013

Bloodbath followed by bloodshed. How does one write pithy comments after a day like today? Trying to shake off emotions and the all too familiar trauma having worked in the World Trade Center for so many years and losing many friends is not easy. But, looking at the charts, the question that plagued us about the small caps lagging, gold collapsing and interest rates dropping certainly were answered today. The Dow had the worst day