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
The stock market paused today as it waits for the Jobs Report due out at 7:30am CT tomorrow. The consensus according to Econoday, is for 190,000 new jobs created. Oil pulled back again today and gold continued down.
In tonight’s video I look to see what the High Yield Bond ETF (HYG) is telling us. I also look at Las Vegas Sands (LVS), Transocean (RIG) and Newmont Mining (NEM). Today we closed a trade idea on Chevron (CVX) with a 77% gain in 5 trading days. Continue reading
The market pushed higher again today continuing its levitation act that it’s been conducting for a few weeks now. The DJIA was up another 165 points and the S&P 500 (SPX) was up 24.6 points. All the indices showed solid gains today.
Although the SPX is just 30 points away from its all-time high, the NYSE Composite Index (NYA) has just today hit a 68% retracement of the move down and Russell 2000 (RUT) has just touched a 50% retracement level.
In addition to our review of the market action, I check our trade ideas. I may have forgotten to mention in the video, that we exited the last piece of the Whole Foods Market (WFM) trade idea, which closed that at a profit. Continue reading
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