Market Notes: The close below support didn’t trigger a massive sell-off instead the dip buyers can out in force to move prices back up. But the volume wasn’t huge and retail didn’t buy as much as it has in recent dips. As long as the Fed is buying an...
Market Notes: I’ve been watching the rising level of support for the past two weeks. My theory is as long as it holds the market will continue to climb. Look close at yesterday’s close and you can see a clear break… Another change I noticed was my sc...
Market Notes: The SPY and DOW squeaked out some gains yesterday after a long red week. The Nasdaq Composite didn’t fair as well but it held near even. That chart I sent out yesterday showing support worked perfectly. The dip was clearly bought below...
Market Notes: The SPY ended the week Friday with the fifth consecutive red day. It closed at the lows of the day and is touching the support level that’s held up so well for months. Here’s the latest chart with the same line from last week: Friday to...
Market Notes: The past week has been a little slow, the market has slipped lower but the volume is light and the volatility has remained in check. This morning futures are rising … I expect the gloom and doom predictions to end . I’m turning more and...
Market Notes: August and September are typically the slowest months of the year for stocks. In post-election years the SPY averages -1.4% and -0.5% respectively. (Thank you to Stock Trader’s Almanac for those stats) But 2021 is far from typical and t...
Market Notes: Futures are red again, nothing significant as volatility remains extremely low. The market remains more bullish than bearish at the moment. Very little news moving the markets this morning. Cathie Wood is saying everything is bullish fr...
Market Notes: We’re kicking off a four-day market week this Tuesday morning and futures just made a green to red move. A few interesting themes I’m watching are space and security. IRNT is a security play, making crazy moves. It could find some sympa...
Market Notes: Remnants of Hurricane Ida have devastated parts of the Northeast including New York City and Philadelphia. High water rescue missions were conducted in Central Park. Long term the market doesn’t care about natural disasters but since th...
Market Notes: September started off in the green. More stocks are turning bullish from the slump we saw in August. ~60% of stocks are above their 50-day and 200-day moving averages. My scanner was full for a change with lots of stock breaking out of...
