Markets are looking like they'll open over a half a percent high helped by better than expected initial claims data. This creates a gap over 2 days of consolidation in resistance created by daily highs from May.
The two days …
The Q's are the only one of the four market watch that closed over the prior high, DIA broke it marginally but closed lower and the SPY and IWM had an inside day high in the prior day's range. One …
After an exceptional move in the markets last week, I'd be careful about buying breakouts on stocks that have run up for 2-3 days with out a rest. As a result the long list has two types of stocks.
1. …
Seems hard to believe, but it's true, the Q's and IWM are at a the 50% line from the highs to the lows at the 200-day MA. Aside from this being a good point to expect the market to take …
Seems hard to believe, but it's true, the Q's and IWM are at a the 50% line from the highs to the lows at the 200-day MA. Aside from this being a good point to expect the market to take …
Markets are gapping higher and well over the daily consolidation. This comes after two very strong days and all of which has been fueled in a large part by the expectation that Greece would pass an austerity plan. As of …
Markets are gapping higher and well over the daily consolidation. This comes after two very strong days and all of which has been fueled in a large part by the expectation that Greece would pass an austerity plan. As of …
I've included the market watch charts at the bottom of this post again so you can see what I mean about the Q's and IWM turning up. I also put blue lines to indicate key price levels for the bulls …
IWM is the only market that did not have an inside day on Friday and only because it traded above the prior high. The intra-day action was a steady decline resulting in negative pivot stacks in all but IWM and …
Yesterday's big gap down tested the markets nicely. Three important points to notice in yesterday's action.
1. Divergence - SPY and DIA tested their swing low and IWM and QQQ's did not come close.
2. Decent volume on the day …