I have downgraded the market further today with the rating that Bears have the advantage over Bulls going into Wednesday. Here is my objective reasoning for downgrading the market further after today’s trading.
The NYSE percent of stocks above the 50 day moving average is plunging as traders have been rushing for the exit across (Read More….)
The Twiggs Money Flow is falling on the major indices. That means that traders are choosing to sell out of the market and book their profits.
S&P 500 Chart
Comments: The money flow has been falling on the S&P 500 this entire week. Watch 2193 support level. In an uptrend, previous resistance should become (Read More….)
Whether we are talking about individual stocks, the stock market, or the economy, when you’re wrong just admit it and then move on. The goal is to make money, not to be right 100% of the time so you can stroke your ego.
AM TV and Peter Schiff predicted that the Federal Reserve could not (Read More….)
Small cap stocks are the place to be in a Trump Administration. Trump’s economic policies will negatively impact large multinational corporations like Apple. Small cap stocks are all about domestic companies.
Small cap stocks generate most of their profits inside the US, exactly where Trump’s economic agenda is targeting.
Since Election Day, small cap stocks (Read More….)
For the week, the DJIA gained 0.1%, the S&P 500 rose 0.8%, and the Nasdaq climbed 1.6%.
Economic data and Federal Reserve commentary virtually sealed the deal that a rate hike is coming at next month’s monetary policy meeting.
Trump needs to fire Yellen IMO. Trump has pledged a $1 trillion infrastructure spending program to (Read More….)
The Russell 2000 formed an unyielding Three Soldiers pattern going into the close. A Three Soldiers is when the fast and core trigger both go blue and then the next higher time frame up goes blue on the fast trigger.
As you can see, a Three Soldiers pattern is an explosive pattern signal for (Read More….)
We have masterfully stayed on the sidelines and in the safety of cash while markets have chopped out and gone sideways for the last six trading days. Sometimes no trade is the best trade to make. This sideways market action has given us two excellent levels to trade against, resistance at 1212 and support at (Read More….)
Markets have broken above key resistance levels, but they have yet to pull back and test those levels. We need to confirm those broken resistance levels as support levels, and we have yet to do that.
For five days we have had distribution candlesticks (upper shadows) which suggest distribution by institutions. These distribution candlesticks (Read More….)
Brexit fear gripped traders, as the leave camp gained ahead of the June 23rd referendum on the UK’s continuing membership in the European Union. There was lots of jawboning about Brexit. Most of the talk was about the chaos that would follow the UK seceding from the EU. Stocks closed down for the week with (Read More….)
The UK was a major focus of traders today, as a Survation poll found 42% of respondents in favor of ‘remain’ and 45% for ‘leave’, a big reversal from the previous Survation poll. That data was followed by the sad news that UK Labour MP Jo Cox was murdered in her home county, and as (Read More….)
The FOMC began day one of its June meeting today, although most traders expect that the Fed will not hike rates tomorrow. The benchmark German bund yield went negative today for the first time ever, marking another stage of the risk pullback over the last several sessions ahead of the UK referendum on (Read More….)