The market continued its upward push with the DJIA up another 138 points and all the other indices up also. The SPX has now retraced about 55% of the entire move down from the all-time high in May. In tonight’s Weekday Market Wrap video I look at what our indicators are now telling us. Maybe the bears are about to wake up from their nap. Also tonight I look at 3 trade ideas on AAPL, FB and GILD. Continue reading
The markets continued their push higher today with all the indices up. The DJIA was up 122 points, the SPX was up 16 and the Nasdaq up 42. Some folks are trying to compare this selloff and bottom to that of 2011, but for a wide variety of reasons I don’t think that will play out.
We are at a whole different stage of the game now. And as I discussed weeks ago, some of the indicator readings we got, were not only more severe than 2011, they were as severe as the fall of 2008. Now nothing goes down in a straight line and that is what we are now dealing with. In tonight’s Weekday Market Wrap video I look at the market action and at IBM, FB and AAPL. Continue reading
Well the bulls ran out steam, at least for today, as all the indices were down slightly except for the DJIA which was up 13 points. Oil was up nearly 5% today in what could be another leg up. Gold continued higher and the biotech sector got smashed again.
So even though there was a pause in the indices, there was plenty of action. In tonight’s Weekday Market Wrap video I look at what the price action, combined with our indicators, is telling us now. Continue reading
The bulls were clearly in control today, building on the move made on Friday. Since the low on Friday, the DJIA has risen 763 points and the SPX 93 points. The market is now very overbought. In fact the most overbought reading of the year.
In tonight’s Weekday Market Wrap video I look at the possible Elliott Wave scenarios that may be playing out in the market. I also review FireEye (FEYE) which hit our 3rd target today enabling the closing of another profitable trade idea. Continue reading
The latest trade ideas video is posted below. In today’s video I review trade ideas that were closed last week on CAT, BABA, SCTY, NFLX and SNDK. I then review open trade ideas on IBM, KORS, WFM, FEYE and TWTR. Watch list is also discussed. Continue reading
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