Tag Archives for " USO "

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 Stock Market is Getting Closer

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

0 Overhead Supply

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

0 China is Back

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

0 Stock Market Tightens

The stock market got even more compressed today on a fairly quiet holiday session. The DJIA was up 47 points with the SPX up 2.5 and the Nasdaq up 8. The stock market has had a very good run to the upside over the last 9 sessions but is now very overbought. Two trade ideas entered today on Goldman Sachs (GS) and Gilead Sciences (GILD) and I touch on these in today’s Weekday Market Wrap video. Continue reading