It was an interesting session today, as the blue chip indices were lower in the morning, and basically moved sideways the rest of day to end down on the session, while the Nadsaq 100 stair-stepped its way higher all day and...
Read MoreThe bulls lost those important 20- and 50-day exponential moving averages nearly two weeks ago and are now in the process of trying to back test and break back through. The real question on everyone’s mind is whether the...
Read MoreInto the final portion of today’s session, let’s remember that Cisco (CSCO) releases earnings after the close of trading, which could have an impact on overall market direction before as well as after the closing...
Read MoreTuesday was a very good follow-up to Monday’s recovery session, as the indices extended their snapback rally from deeply oversold conditions and made some significant progress. The day started out with a move up and then a...
Read MoreAll you can do is learn. We had a very intense move lower on the indexes across the board led by the technology stocks. In good markets the technology stocks lead up and in bad markets they tend to lead down as the appetite for...
Read MoreThe rally in the PowerShares QQQ (NASDAQ: QQQQ) since last Friday’s low at 42.63 has recovered about 20% of the entire down-move off of the Jan 11th high at 46.80, which contrasts to a recovery rally of about 35% in the...
Read MoreThe stock market indices started the week in bullish fashion and rallied steadily, although in a choppy manner. The S&P 500 had 9 separate waves up and down today, but in a rising channel that ended near the highs for the...
Read MoreThe masses are now wondering if the down trend is over. A brief interlude to the down side to unwind things and now that this has taken place, it’s all good from here. I wouldn’t get too bullish too fast here....
Read MoreUSD/YEN technicals are warning me to stay long dollars via the PowerShares DB U.S. Dollar Bullish ETF (UUP) and the UltraShort Yen ProShares ETF (YCS). Apart from the very negative financial press lately concerning the worsening...
Read MoreMarket Overview: This is now the question we need to ponder and decide which way this market is headed. There are cases to be made for both and I will discuss that later on. Yesterday I spoke about how we had our first down...
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