Tag Archives for " S&P 500 Index "

0 Teasing the Bears

The market pulled back on all the indices today. It’s almost as if it is teasing the bears. It has done this stair stepping process higher for several weeks now.

But there may something a little different this time and I discuss it in tonight’s video. I also briefly look at Michael Kors (KORS) which was up 8%, Mosaic (MOS) which was down 8% and Netflix (NFLX) which was up 4% today.

After the market closed, Facebook (FB) reported earnings and the stock was up about 3%. FireEye (FEYE) on the other hand was trading down 14% along with Whole Foods Market (WFM) trading down 6% in after hours trading. Continue reading

0 Continues to Push

The stock market continues to push higher with the DJIA up 89 points, the SPX up 5.7 and the Nasdaq Composite up 18 points. Oil was higher today and positively influenced our two trade ideas on Apache (APX) and Chevron (CVX).  

In tonight’s video I look at today’s market action and talk about a revised scenario for gold (GLD) that seems much clearer to me.  Continue reading

0 Stock Market Levitation Act

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

0 Elliott Wave Count…Buckle Up

The stock market closed out one of it’s best months in a long time with the S&P 500 (SPX) up 8.3%.  Bulls are licking their chops. But after the very violent move down August and again in late September, a strong snap-back rally fits the Elliott Wave count perfectly.

There are several dynamics at work right now and I talk about all these in today’s Weekend Market Analysis video. In addition to the daily charts we look at the weekly and monthly charts today. According to my Elliott Wave count, it is time to fasten your seat belts. Continue reading

0 Stock Market – Hitting a Wall?

The stock market might be hitting a wall of resistance. I’m talking about the huge overhead supply from the trading range that occurred from March into August. When you look at the chart of the S&P 500 (SPX) it is now right in the middle of all that.

Given how far and how fast the market has come since September 29, I think there is a good chance that all that overhead supply is now going to come into play. Also given that the Energy ETF (XLE) and some of the oil stocks look they are trying to bottom, I am wondering if a geopolitical event is about to occur that will affect oil positively and the stock market negatively.  Continue reading