Monday Market Wrap

The market pretty much chopped around and went sideways today and I score that as a plus for the bulls. Everyday that goes by where we don’t go down hard, brings in the skeptics and the shorts.  We all know how the shorts have fared in this market. I still think the SPX looks like [...]

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Thursday Market Wrap

For the day the SPX/DOW were -0.10%, and the NDX/NAZ were -0.15%. Bonds lost 10 ticks, Crude dropped 95 cents, Gold slipped $7, and the USD rallied.  Short term support is at SPX 1991 and 1973, with resistance at SPX 2011 and 2019 . Short term momentum dropped from overbought to oversold today. These are short [...]

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Wednesday Market Wrap

If you look at all the the four major indexes they all pulled back to rising 10 day moving average support.  The ugly candle of the day goes to AAPL. It sold off over 4% on monster volume.  You can blame curved displays.  Samsung unveiled Galaxy Note 4 and Galaxy Note Edge 4, which has [...]

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Tuesday Market Wrap

For the day the SPX/DOW were -0.10%, and the NDX/NAZ were +0.35%. Bonds lost 17 ticks, Crude dropped $2.80, Gold fell $22, and the USD was higher.  Tomorrow: Factory orders and Auto sales by 10am, then the FED’s beige book at 2pm. The market opened at a new high today, then immediately began to pullback.  [...]

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Enjoy The Weekend

Hope everyone is having a nice weekend.  We all need a rest from the market from time to time. Starting to see some rotations, but it maybe to early to trust the moves. For example some of the Chines stocks are beginning to sell off, but that could just mean a mild pullback after the [...]

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Stop With The Volume Argument

I’m not a Pollyanna or a perma bull, although being either would have made you fat stacks of cash over the last five or six years. The bears are  still are making that broken, worn out “low volume” argument.  If volume is low there aren’t any “real” buyers right?  News flash…..summers are always slow and [...]

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Thursday Market Wrap-CODE Acting well

For the day the SPX/DOW were -0.20%, and the NDX/NAZ were -0.20%. Bonds gained 5 ticks, Crude rose 75 cents, Gold rallied $7, and the USD was flat. Short term support is still SPX 1985 and 1973, with resistance at SPX 2005 and 2019. Tomorrow: Personal income/spending and the PCE at 8:30, the Chicago PMI at [...]

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Wednesday Market Wrap

The market chopped around today, basically took the  rest that it needed..  The next week or so should be interesting. Will we advance, go sideways or pulback? Barring a nasty geopolitical event, I would think we go higher or maybe sideways. Not any real big developments today other than the partial profit we took on [...]

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