The stock market indices started out with a very strong session to begin the week. At the get-go they did back off to test, but immediately held and then came on strong in a 3-wave rally that took the indices up to new rally...
Read MoreIt also is putting distance away from 1099 down to 1092, which is very good news for the bulls. They certainly needed some breathing space and they got it for sure as the market churned near this 1100 area today, but eventually,...
Read MoreThe Shanghai Composite Index closed higher for the seventh consecutive session, and more importantly from a technical perspective closed above its (now flat) 50 DMA for the first time since mid-April. The strength extends the...
Read MoreWhat a fight we are witnessing. The bears setting up camp right at 1099. The bulls working every single day to try to get through 1099, but seemingly never able to make the necessary move. Why? Because those bears have such a...
Read MoreThe markets appear to be very nervous in general and particularly nervous about the EU stress test results, which have pressed the euro lower versus the U.S. dollar, which makes sense, but also has been accompanied by a sell-off...
Read MoreThe day after fed Bernanke came out and told the world things stink the market rallied anyway, getting up to the big breakout level at 1099 on the S&P 500 . Interesting in that Bernanke told everyone yesterday that there was...
Read MoreThe indices had an excellent day for the bulls, as they gapped up big, blew through initial resistance and kept running, reaching 1870 on the Nasdaq 100 and 1097 area on the S&P 500. Over the next few hours, they pulled...
Read MoreAhead of natural gas inventory data at 10:30am ET, the U.S. Natural Gas Fund ETF (UNG) has rocketed from 7.60 above key near-term resistance at 7.78/80 in what looks like a bullish surge out of its week-long consolidation area....
Read MoreThe stock market indices started the day with a big gap up, but that was it for the day in terms of the highs. They came down sharply, tested support, and did manage to hold by mid-morning and rally into early afternoon, but the...
Read MoreYou have to love honesty, and that’s what we heard today when Mr. Bernanke told congress that things in the United States are not very good at all. That although the expectations are for 3.5% GDP (gross domestic product),...
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