Thursday Market Wrap

Because I’m a lousy bottom caller and coupled with the  fact that there is still enough fear and loathing out there, I still haven’t added any new swing longs. You cant live in fear, but we are still at the stage where we could wake up to ten new ebola cases tomorrow and we drop [...]

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Wednesday Market Wrap

The stock market fell again today as disappointing retail sales revived concerns about the economy and another healthcare worker was found to have Ebola. The Dow was down 174, or 1.1%, to 16,142. The Nasdaq was down 12 or 0.3%, to 4,215, while the S&P 500 lost 15, or 0.8%, to 1,862. Declining issues narrowly [...]

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Tuesday Market Wrap

If the market had opened way down today and closed where it did I’d feel better.  Instead, the market opened up, and like yesterday, pretty much gave it all back. Bearish action, but we do seem to be trying to carve a bottom.  I don’t want to get too technical here, lets just say there [...]

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Sunday Wrap

Futures are currently lower. Nazz -.04%, S&P futures -.05% at 1865 Dow futures -.045%. The SPX is now down about 5.5% from the intraday highs to Fridays close. The daily charts have snapped, so looking at the weekly charts is probably more constructive at this point. Short term support is  1901 and 1869, with resistance [...]

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Midday Update

October is here, and volatility is back in a big way. The Volatility Index (VIX) popped back up above 22 this morning to a fresh, 52-week high, which shows that the “risk off” trade is clearly back in play. The broader stock market is relatively flat at midday, although the tech-rich Nasdaq is off about [...]

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