Tag Archives for " NYSE Composite "

0 Stock Market Land Mines

All the indices were down today with NYSE Composite and the Russell 2000 down to a greater degree than the others. The breadth of the market and the indicators are leaving me wondering if the move down has now started.  I talk about this in the video tonight.

Stock market land mines continue to go off throughout this entire rally. IBM was down 4% today on news that the SEC was investigating their revenue recognition process. IBM is now down 9.5% from its Oct. 9 countertrend closing high.

And Twitter (TWTR) reported earnings after the market closed and hit a land mine, trading down 12.3% in after hours trading.  Apple (AAPL) on the other hand was basically unchanged on their earnings, as of 5:15pm CT. Continue reading

0 Extreme Compression…Again

The market was very tight today with the Dow Jones Industrial Average (DJIA) trading in a 58 point range and the S&P 500 (SPX) trading in a less than 9 point range. This is extreme compression.

In today’s Weekday Market Wrap video I also look at the SPX monthly chart to see what is setting up and what it might mean.   Continue reading

0 Stock Market Rally – How Much Further?

On Monday night I put out a post, “Stock Market Getting Closer“. Well four trading days later and the Dow Jones Industrial Average (DJIA) is 416 points higher, so now we are even closer. The S&P 500 (SPX) is 41 points higher. 

The Elliot Wave count remains the same and if anything looks a little clearer. In today’s Weekend Market Analysis video we look at all the market action and what I think the Elliott Wave pattern is saying about how much further for this stock market rally.  We also review my snapshot of 32 ETFs.  Continue reading

0 Joy in Mudville

The Dow Jones Industrial Average (DJIA) was up 320 points today as it opened up and never looked back. All the indices were up but the Russell 2000 (RUT) acted the weakest of the key indices.  

I saw a video clip with Art Cashin, of UBS, today where he talked about the news from the ECB and comments by Mario Draghi. That’s when he said there was “joy in Mudville…brought in by Mario Draghi”. I thought that summed it up pretty well. But as usual, some stocks celebrated and some didn’t. 

In tonight’s Weekday Market Wrap video I look at all the price action and then check in on all our trade ideas. In addition I look at Southwest Airlines (LUV) which was +7.4% today and Under Armour (UA) which was -5.4%, both on earnings releases today. Continue reading

0 Has the Reversal Down Started?

I’ve been talking about another move down now for a while and today’s price action sure looks like a possible reversal bar on the DJIA. Of course we need continuation to confirm. The DJIA was down 48 points with the SPX down almost 12 and the Nasdaq Composite down 41.

In tonight’s Weekday Market Wrap video, in addition to our normal look at the U.S. markets, I look at the German DAX, Shanghai Composite Index and the Baltic Dry Index.  Stocks tonight are Apple (AAPL), Goldman Sachs (GS), Twitter (TWTR) and Boeing (BA). I also show the disaster of the day…Valeant Pharmaceuticals (VRX). Continue reading