Market Consolidating

The major indexes hit intraday records before closing lower as earnings season kicked into full gear, with JPMorgan Chase and Citigroup reporting results. It’s been almost a year without a 3% drawdown in the S&P 500, 2nd longest run in history. 10 more days for the record.  Some would take the other side of that trade and…

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More New Highs, But Don’ Get Complacent

So the Dow, SPX and Nazzy all made more new nominal highs today. Yawn.  The Russell 2000 is bull flagging too, and I don’t think that’s done going up. Tax cuts are still getting talked about in a positive way, but you know how I feel about how the clown people in Congress might figure out a  way…

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Walmart Helps the Dow

U.S. stocks rose to record highs today after Wal-Mart announced a massive buyback and Honeywell said it was splitting into two. Pfizer also contemplated a spin-off as Corporate America looked for ways to keep investors happy and keep this eight-year bull market going. The Dow hit intraday and closing record highs, rising 69.61 points to…

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Setups

I will get into more detail in tomorrow’s video, but here are a few of the names I will highlight. Keep in mind that the market hasn’t seen any type of correction or even a small pullback since the Age of Pericles, so always be on alert. Longs & Shorts BBBY (short) – Targets 19, 16 BBY (short)-…

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Huge Day For Netflix

Netflix had a massive day today.  The company announced that they were raising prices by a buck or two and the shorts got shredded.  This is a great chart to study. You may remember that the stock had a massive breakout back on 7-18.  It followed through higher for a few days after the breakout and…

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Some More Highs and Some Names to Watch

The market squeezed out more fresh gains today with the exception of the Russell 2000. Biotech added .05% and seems to be flagging in what could be an imminent move to all-time highs, which comes in around the 91.79 level for XBI. XBI is sporting one of the prettiest charts you will ever see and…

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More All Time Highs

Stocks closed higher today, building on strong gains from yesterday.  Tax reform is still in the air and rates are still low.  As long as the clownish little men in Congress don’t wreck it, the market should stay in current trend. I wanted to go over a couple of names that I have mentioned over the last couple…

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