Last week was billed as the strongest week of 2012. The S&Ps are about 2-3% off the highs of the year. I think almost everything but the kitchen sink has been thrown at the market in the past 4-6 weeks, and this is where we...
Read MoreStocks rallied today and managed to reclaim weekly gains after ECB President Mario Draghi revealed a meeting with Bundesbank President Jens Weidmann to remove the last major obstacle to the European Central Bank’s plan to...
Read MoreThe market opened up 7-9 handles and has been grinding higher all day. The high of the day in SPX is 1376, right below the 1380 peak from July 19. Above that level, which we probably won’t reach today, is the 1395-1405...
Read MoreWe have a slew of earnings, and we have had a lot of mixed results. Earlier this week we briefly penetrated the ascending channel on the SPY, but we did not close below it. We are now back in that channel, but all that means to...
Read MoreFutures are up 5-7 handles and showing some upside follow through after yesterday’s strong move off the ECB comments. GDP growth figures today came in at 1.5%, better than expectation. The S&P is back in its ascending...
Read MoreFutures flip-flopped from negative to positive this morning after ECB President Mario Draghi announced the central bank would take any measures necessary to preserve the Euro. He even went so far as to suggest that policy makers...
Read MoreSince the June 4th low of 1282, the S&P’s have been making a series of Higher lows and Higher highs, creating an Ascending Channel. Traders have been trying to navigate this channel until it resolves. Buying the low...
Read MoreThis morning I woke up to a gap up of about 15 points in the S&P, and if you look at the S&P right now we’re up about 15 points. Not a lot has happened, but there have been a few good trades. The first trade is...
Read MoreFutures went from -7 handles to up 10+ handles in a few minutes when ECB President Mario Draghi said policymakers will do whatever it takes to preserve the Euro. I guess Europeans can take their usual six week vacations, head to...
Read MoreApple’s rare earnings miss dragged down the Nasdaq down today while strong results from Boeing and Caterpillar lifted the Dow higher. The S&P also fell for the fourth straight day. All told, the Dow finished up 58.73...
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