Rest Day

Dow: -21.03… Nasdaq: -0.27… S&P: -1.16… Investors played a wait-and-see strategy ahead of the ‘unveiling’ of President Trump’s tax reform plan on Tuesday afternoon, but then engaged in a little profit taking after the announcement provided little new information. Treasury Secretary Steven Mnuchin presented the core principles of President Trump’s tax plan on Tuesday afternoon….

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Pukish Action

  IBM is letting it ride on their next new cutting edge product release. Dow: -118.79… Nasdaq: +13.56… S&P: -4.02… Yesterday GS and JNJ screwed the pooch on earnings and today it was IBM which dropped 8 bucks or 5%.  Crude oil also added to the difficulties of the market as it fell almost 4%…

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An Uncertain Market

Dow: -113.64… Nasdaq: -7.32… S&P: -6.82.. The Dow was the worst performing of the indexes today.  The reason for the move in the Dow was pretty much attributed to two stocks, GS & JNJ. The former dropped about 11 or almost 5% and the latter was down 4 or 3%. So, as  I have been saying…

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This Market Has Moxie

It’s easy to over trade in this type of market, so try not to do it.   Dragonfly Doji: A Doji where the open and close price is at the high of the day. Like other Doji days, this one normally appears at market turning points. Today was an interesting day and MAYBE showed us that…

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Earnings Again

The first quarter earnings reporting period is going to come into focus in the coming week with earnings reports on Thursday from Citigroup (C), JPMorgan Chase (JPM), and Wells Fargo (WFC). The stock market’s ability to trade up through declining earnings (last couple of years) stemmed from the Federal Reserve’s inclination to hold the fed…

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