Posts Tagged ‘Recap’
This was an interesting session, although you wouldn’t know that just by looking at the change in prices day to day. We gapped up to new 2 year highs then gave back half of the gap, rallied back up and then sold off hard late in the day to close near unchanged. This [...]
While I’m impressed with the market’s ability to hold up over the last couple of sessions I’m not thrilled with the action. I’ve always been wary of an instrument approaching old highs on declining volume and that’s exactly what the Nasdaq and S&P 500 are doing now. This is an interesting juncture. [...]
The indices gapped up this morning and never looked back. It was the biggest day in about three months and an impressive turnaround from yesterday. Even better, this rally was based on some actual data — manufacturing data out of China and Europe. Several indices made new 52-week (plus) highs today, including [...]
It was a choppy day as the market tried to figure out if it liked the Irish bailout and the Black Friday results. We finished on a high note with afternoon strength but overall the day didn’t give us much new information. The indices are still consolidating as they have been for at [...]
After a shaky morning the bulls were able to keep the indices positive or near unchanged. So the oversold bounce that started last week is still intact. The trend table is looking better now that all of the short term trends are up or lateral but I wouldn’t sound the all-clear just yet. [...]
Well it was looking like a pretty harmless pullback last week but today we got the catalyst(s) to really create some downside damage. The same old global economic/financial worries that have been plaguing the market for what seems like forever came back to the forefront today. On November 4th I wondered whether the [...]
The indices haven’t done much since Thursday’s pop but the bulls should be happy about that. Price has consolidated on decreasing volume, which looks pretty constructive to me. At this point there needs to be a good (bad?) catalyst to create any kind of significant pullback. If we do sell off I’ll [...]
We had some very interesting developments today as a lot of indices broke through multi-month resistance levels on good volume. I must admit that I’m surprised at the timing of this move. If it was gonna happen, i would have thought it would have occurred yesterday post-Fed and election results or tomorrow, post-jobs [...]
We’ve got a big week ahead of us with election results and a Fed (non?)decision hitting Wednesday and payroll data on Friday. The Nasdaq and S&P seem to need some catalyst to get through the resistance of the spring highs. Perhaps one of this week’s news items will give us some direction. [...]
We had a slight pullback today on light volume. Selling picked up late in the day though. If it carries over into tomorrow’s session the June highs could be tested again. Those old highs were able to support the indices last week and if I was a bear I’d want to see [...]
