Attached below is the very condensed version of what I provide to the Insider Members in their Weekend Market Analysis. If you would like much more analysis, Elliott Wave perspective and trade ideas, check out the membership page.
The stock market put its rally hat on today as it had a bounce from oversold conditions. The DJIA was up 237 points with the SPX up 30 and the Nasdaq up 56.
The breadth on the NYSE wasn’t super strong with 2.5 advancing stocks for every one declining stock. And there were only 14 New 52 Week Highs vs 136 New 52 Week Lows on the NYSE.
In tonight’s Weekday Market Wrap video I look at today’s action and review two trade ideas entered today on Canadian Solar (CSIQ) and Apache (APA). Continue reading
In this Sunday Trade Ideas video I review the trade ideas that were entered and closed last week as well as those that are now open. These include Las Vegas Sands (LVS), Under Armour (UA), Visa (V), Alibaba (BABA), Chevron (CVX), Caterpillar (CAT) and Twitter (TWTR). There are two new trade ideas on Apache (APA) and Canadian Solar (CSIQ).
“It doesn’t matter how slowly you go as long as you don’t stop.”
– Confucius
Selling intensified on the stock market today with declining volume outnumbering advancing by an 8:1 margin on the NYSE. The DJIA was down 254 points with the SPX down 29 and the Nasdaq down 62 points.
Commodities pressured stocks as oil dropped below $42/barrel for WTI, gold dropped and copper broke to lows last seen in early 2009. In tonight’s video I look at all three commodities and then review two trade ideas entered today on Caterpillar (CAT) and Chevron (CVX). Continue reading
There was a pause in the action today as the stock markets traded in a much narrower range and were a little mixed. The DJIA, SPX and NYA were all up just slightly but the Nasdaq and RUT were down. All eyes on China tonight as two key economic reports are released.
In tonight’s Weekday Market Wrap video I look at today’s price action and two trade ideas…Under Armour (UA) and Visa (V). I then review two new trade ideas on Alibaba (BABA) and Caterpillar (CAT). Continue reading
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