More Green

Dow: +67.18… Nasdaq: +17.49… S&P: +4.76. Quick post tonight. Carryover momentum from yesterday’s all-time high Crude oil pulls back amid OPEC concerns Positive bias in global markets Longer-dated bonds pull back Heavily-weighted health care underperforms Strong: Telecom Services, Real Estate, Consumer Discretionary, Consumer Staples, Industrials, Utilities Weak: Health Care, Energy The market ended the Tuesday…

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Gobble Gobble

Dow: +88.76… Nasdaq: +47.35… S&P: +16.28… So far the Turkey Gods are playing nicely in the sand box as  Thanksgiving week started off on a good note. Notably, the Nasdaq is continuing its move. So far so good. I’d like to see QQQ end the week up around that lateral resistance of 120 or higher….

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Ship Happens

The dry shippers have been all the rage over the last week and everyone from the barber to the construction guy became an expert on the Baltic Dry Shipping Index. Then today happened and lives were lost. As you can see above, Dryships went from 5 to 110 and back to 11.  That will leave…

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A Little Profit Taking

Dow: -54.92… Nasdaq: +18.96… S&P: -3.45… Today they sold shares of banks and industrial companies, stalling a rally in the Dow. Many of the sectors that were early winners after Donald Trump’s victory pared gains midweek, including shares of banks, health-care companies, and materials and industrial firms.  Financials led declines in the S&P, falling 1.4%. The…

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Nasdaq Bounces

Dow: +54.37… Nasdaq: +57.23… S&P: +16.19… The Dow  notched a fourth consecutive record close Tuesday, even as investors pulled back from some of the most popular post-election trades. Most important was the action in the Nasdaq today as it popped about 1.4%.  A positive continuation in Nasdaq would be a great help to an already…

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Nap Day

Dow: +21.03…Nasdaq: -18.72… S&P: -0.25.. The market took a rest today, but the Nasdaq continued its descent into hell. Don’t get me wrong, the market internals are healthy, but the Nasdaq refuses to play along, at least for now. AAPL, GOOGL and AMZN are all at or below below their respective 200 day moving averages…

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New Setup

That red line in the chart above was tagged in the wee hours on election night. Roughly 2028 was the overnight low.  We closed today at 2167. So we have rallied about 140 handles since futures went limit down and the world as we know it was coming to an end. We now find ourselves…

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