Tag Archives for " Russell 2000 "

0 Bounce from Oversold

The stock market put its rally hat on today as it had a bounce from oversold conditions. The DJIA was up 237 points with the SPX up 30 and the Nasdaq up 56.

The breadth on the NYSE wasn’t super strong with 2.5 advancing stocks for every one declining stock.  And there were only 14 New 52 Week Highs vs 136 New 52 Week Lows on the NYSE.

In tonight’s Weekday Market Wrap video I look at today’s action and review two trade ideas entered today on Canadian Solar (CSIQ) and Apache (APA). Continue reading

0 Stock Market Decline…Most in 12 Weeks

Selling continues on Friday with the DJIA down 200, the SPX down 23 and the Nasdaq down 77 points. Almost all the indices closed the day and the week either on their lows or just fractionally off the lows. It doesn’t paint a pretty picture for Monday.

The stock market decline was the largest of the last 12 weeks. The last week to drop this much or more was the week ending August 21. That Friday was followed by the huge wave of selling on Monday August 24th.

In today’s video I talk about the “line in the sand” that, if crossed, confirms my Elliott Wave count. And when that happens we will be moving to new lows below 1867 on the SPX. So as I said in my post/video on October 31, “fasten your seatbelts”. Continue reading

0 Commodities Pressure Stocks…Again

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

0 Selling Pressure

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

0 Eyes on China

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