Thursday Market Wrap

For the day the SPX/DOW were +1.70%, and the NDX/NAZ were +2.00%. Bonds gained 18 ticks, Crude lost $1.20, Gold rose $12, and the USD was lower. Medium term support jumps back up to the 1956 and 1929 pivots, with resistance at the 1973 and 2019 pivots. Tomorrow: weekly Jobless claims at 8:30, then Wholesale [...]

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Tuesday Market Wrap

Hard to sugar coat this one. The underpinnings seemed to snap today as stocks ran lower.  It is possible that they want to go down and retest last week’s lows (SPX 1926 intraday)  and run it higher again.  This remains to be seen.  For the day the SPX/DOW were -1.55%, and the NDX/NAZ were -1.50%. [...]

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Monday Market Wrap

For the day the SPX/DOW were -0.15%, and the NDX/NAZ were -0.35%. Bonds gained 9 ticks, Crude rose 70 cents, Gold rallied $14, and the USD was lower.  As for the SPX, today’s pullback to 1958 was 20 points from the morning high.  Here are the current support/resistance levels. Support- 1956-1929 Resistance- 1972-1985 SPLK triggered then pulled [...]

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Things That Made Us Scared

OMG what a pullback. Gimme a break. We worried about: 1- Hong Kong….Hong Kong, really? Heads were never rolling in the town square and the police have giant water hoses and tanks if they did. The peeps don’t mess with the government in China. 2- Everyone waited for the jobs number. It was fine. 3- [...]

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Tuesday Market Wrap

For the day the SPX/DOW were -0.20%, and the NDX/NAZ were mixed. Bonds lost 3 ticks, Crude dropped $3.15, Gold slipped $8, and the USD was higher.  Tomorrow: the ADP index at 8am; ISM manufacturing, Construction spending and Auto sales at 10am.  The market opened a few points higher today. Dropped to SPX 1970, then rallied to [...]

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Alibaba Hangover?

The stock market has been acting oddly of late.  The strange feeling is that it has been very volatile ever since the S&P 500 hit a record high on September 19 — the day of the Alibaba Group  IPO. Since then, it really hasn’t responded all that favorably to good news.  Market breadth has narrowed, [...]

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