The video below is very brief subset of what I provide my Insider Members.
In this video I review the DJIA daily and weekly charts, check in on the VIX and review the weekly charts of semiconductors, homebuilders and financials.
How does current price action compare to the 2007 top?
Well, we now have a new president with Donald J. Trump sworn in as the 45th President of the United States yesterday. The stock market has been on a tear since the election.
As of the close on January 19, the last trading day prior to inauguration, the Dow Jones Industrial Average (DJIA) is up 7.6% from the close on November 8, Election Day. Continue reading
The bulls are running on Wall Street but the breadth of the market in the move since November 4 has been weak. Friday was a great example. The DJIA was up 142 points with advancing and declining stocks dead even on the day…1496 up, 1529 down.
So this fifth wave up from March 2009 began in February and is now 10 months old. In March 2017 this market will be a Fibonacci 8 years old. We are at the top of this country’s greatest bull market.
This final cycle wave V started in 1982 with a huge upside explosion. As of Friday’s close the DJIA is up 18,979.93 points or 2,543% from the August 12, 1982 close of 776.92. Continue reading
Yes the market is setting new highs again on Friday and for the week. But be very careful. This market is pushing the envelope.
In today’s video I look at the Dow Jones Industrial Average (DJIA) daily and weekly charts. The DJIA has pushed to the top of its current pattern. What’s next? At what point does the picture change? Continue reading
or so the stock market might have you believe. All we heard ahead of the election was how a Trump victory would create nothing but uncertainty for the market.
As results poured in Tuesday night and it became more and more clear that Trump was going to win, the markets went into a tailspin. Eventually the futures went limit down and could not trade lower for the rest of the overnight session.
That caused selling to abate and buying to come in and the market began to bounce. And then Trump claimed victory. He gave a very nice acceptance speech. He talked about all the rebuilding that’s going to get done…pulling the country together…and the buying continued.
By the time the market opened at 9:30am ET, the market was back to about even and then rallied all day, with the DJIA up about 257 points. So it took just a few hours and all that uncertainty went out the window. Really? Continue reading
Powered by WishList Member - Membership Software