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
All the indices were down today with the DJIA down 56, the SPX down 6.7 and the Nasdaq down 16 points. It was not a super strong selling day but the SPX has now closed 3 days in a row below the 10ema as selling pressure resumed today.
Tonight I review all the current trade ideas including one entered today on Alibaba (BABA). I also talk about a new trade idea on 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
All the stock market averages were down today as selling kicked in to start the week. The DJIA was down 179 points and the SPX down 20. The volume of declining stocks on the New York Stock Exchange (NYSE) was the highest since September 28.
At one point today declining stocks outnumbered advancing stocks on the NYSE by 8:1 but by the end of the day that had narrowed to about 4:1.
In tonight’s Weekday Market Wrap video we look at today’s selling and a couple of trade ideas. A new trade idea was entered on Las Vegas Sands (LVS) and a new one on Under Armour (UA) discussed. Continue reading
In today’s Weekend Market Analysis video I look at the U.S. stock market today from both daily and weekly views. This includes all five key indices, indicators and key ETFs.
I’ve had basically the same Elliott Wave count now for the entire year. I am not changing it, as it is my primary count, but I have now created an alternate count for the stock market that I discuss in today’s video. The Elliott Wave counts are on the S&P 500 (SPX) and the Dow Jones Industrial Average (DJIA). Continue reading
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