Tag Archives for " technical analysis "

0 And the Survey Says…2011?

The markets continued their push higher today with all the indices up. The DJIA was up 122 points, the SPX was up 16 and the Nasdaq up 42. Some folks are trying to compare this selloff and bottom to that of 2011, but for a wide variety of reasons I don’t think that will play out. 

We are at a whole different stage of the game now. And as I discussed weeks ago, some of the indicator readings we got, were not only more severe than 2011, they were as severe as the fall of 2008. Now nothing goes down in a straight line and that is what we are now dealing with.  In tonight’s Weekday Market Wrap video I look at the market action and at IBM, FB and AAPL. Continue reading

0 Pause in the Action

Well the bulls ran out steam, at least for today, as all the indices were down slightly except for the DJIA which was up 13 points. Oil was up nearly 5% today in what could be another leg up. Gold continued higher and the biotech sector got smashed again.

So even though there was a pause in the indices, there was plenty of action.  In tonight’s Weekday Market Wrap video I look at what the price action, combined with our indicators, is telling us now. Continue reading

0 Bulls in Control

The bulls were clearly in control today, building on the move made on Friday. Since the low on Friday, the DJIA has risen 763 points and the SPX 93 points. The market is now very overbought.  In fact the most overbought reading of the year.

In tonight’s Weekday Market Wrap video I look at the possible Elliott Wave scenarios that may be playing out in the market.  I also review FireEye (FEYE) which hit our 3rd target today enabling the closing of another profitable trade idea. Continue reading

0 New Trade Ideas Video

The latest trade ideas video is posted below. In today’s video I review trade ideas that were closed last week on CAT, BABA, SCTY, NFLX and SNDK. I then review open trade ideas on IBM, KORS, WFM, FEYE and TWTR. Watch list is also discussed. Continue reading

0 Whipsaw Friday

The markets are still extremely volatile as the DJIA was down over 250 points at one point on Friday but closed up 200.  A huge whipsaw day…enough to give anyone indigestion. The market was trying to digest the jobs report that was released Friday morning showing less than expected job growth and downward revisions to July and August.

This market has still not demonstrated the type of pessimism at a selloff low that was shown in 2011 much less 2008/2009. I talk about this in today’s Weekend Market Analysis video (below). In addition to our normal key ETFs that I review on the weekend, I add several more sector ETFs to look at a total of 10 broad sectors and 2 more specialized sectors. Continue reading