The market continued to build on its recent strength, surging today but running to resistance at its 100-day moving average (S&P). All major indices closed around 1% higher heading into tomorrow’s Fed decision. Some...
Read MoreMarkets grinding all day as we are hitting five week highs. SPY reaching the resistance zone of $135.75-136.25 with the high of the day at $136.25 (First objective of the Inverted Head and Shoulders Pattern). We now have a new...
Read MoreBank of America (BAC) stock is up just over 5% in trading so far today after positive reports from both the US government and the firm’s Merrill Lynch investment banking division. Early this morning, reports surfaced that...
Read MoreAs we talked about on the Morning Call today, there is a growing disconnect between the tape and the headlines. The action in the market has been much stronger than the macro economic climate would indicate, despite that fact...
Read MoreWe have had a good two day move across the board, and the technical signs are starting to indicate support for long positions. The best in breed stocks led the charge, as the moves that started Thursday had some follow through...
Read MoreNo big striking headlines out of the G20 except some more tough talk about “fiscal integration.” There has also been more talk about commitment to what’s needed to keep the Euro Process going, which most think...
Read MoreMajor US indices were mixed Monday, with the Nasdaq and S&P posting gains and the Dow slumping to a loss. If nothing else, it was an interesting day in the market. The status quo, pro-bailout party won the elections in...
Read MoreSocial networking stocks have experienced strong gains across the board today, building on strong momentum to close last week. Shares of most social media companies traded higher with large volume on Friday, and Groupon (GRPN)...
Read MoreAfter the New Democracy, pro-bailout crowd won out in the Greek elections last night, the consensus seemed to be that we would see a large gap-up today. However, as the morning pre-market trade evolved, it was clear that the...
Read MoreRallies need leaders, and we have listed EBAY as a candidate to fill that void in this market based on its recent price action. The market has been acting well over the last few sessions, but to sustain a rally it will need...
Read More
