The DJIA, SPX, Nasdaq and RUT were all up slightly today but the NYSE Composite Index (NYA) was down 30 points. In tonight’s Weekday Market Wrap video I review my Elliott Wave count for the SPX and discuss the scenario that I am expecting for the stock market.
I also review the key signal that was given by the Short Term Trading Index (TRIN). Netflix (NFLX) and IBM are discussed tonight. Continue reading
The stock market in the United States and markets around the globe have all had a good October…so far. But when you look at the S&P 500 (SPX) chart you clearly see that it is very close to hitting a huge wall of overhead supply.
Yes we’ve had some huge bounces since the lightning bolt struck in August but that is what you get after a move like that. In today’s Weekend Market Analysis video I look at all the action. This weekend I introduce a new tool to review a variety of ETFs quickly. Continue reading
The stock market roared back with a vengeance today with the DJIA up 217 points, the SPX up 30 and the Nasdaq up 87. Ever since the break down in August the volatility has stayed strong giving investors and traders a wild ride.
The market is still very overbought and no life is showing in the Hi-Lo indicator either. In tonight’s Weekday Market Wrap video I look at all the indices and indicators. I also review a couple of trade ideas and talk about Seagate Technologies (STX), which again demonstrated the vulnerability of stocks. Continue reading
It started in China again last night as they reported lower than expected inflation. Then U.S. retail sales were below expectations. Then Wal-Mart dramatically cut its future earnings forecast and whoosh…the stock was down 10% on its heaviest trading day since January 2009 and its lowest close since May 16, 2012.
In tonight’s Weekday Market Wrap video I look at all of today’s action and check in on Germany and China. Gold continues to push higher. Three new trade ideas tonight on Celgene (CELG), Lululemon Athletica (LULU) and Tesoro (TSO). Continue reading
At least for one day, China is back influencing the global markets. China released data last night that showed that imports dropped substantially due to weak domestic demand. This again is stoking fears about what’s really happening in China’s economy.
The DJIA was only down 50 points today but the other indices put in more reversal type price action with the SPX down almost 14 points and the Nasdaq down 42 points, closing almost on its low for the day. Biotech got hit hard again today with IBB down 3%.
In tonight’s Weekday Market Wrap video I look at all the market action including Valero (VLO), Tesoro (TSO) and Netflix (NFLX). Continue reading
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