Posts Tagged ‘Recap’
This lackluster session was an appropriate end to a lackluster month of August. The market feels heavy to me yet it refuses to breakdown under the July lows. That could change if we get a bad number out of Friday’s payroll report. Until then, I expect trading to remain muted and contained [...]
M&A activity and some good earnings news sparked a decent rally today. Volume increased a bit but it was still typical summer low volume. The most significant development was the S&P closing above its 50-day moving average. The Nasdaq got close to its 50 DMA but late day selling pushed it back [...]
It was another one of those days where every sector of the market was down — gold couldn’t even lift today! And of course the selling came on increasing volume. That’s been par for the course for months on end. There was plenty of technical damage done today. The S&P and [...]
So we had more improvement to the technical picture today despite the slightly declining volume. Given that this is a Monday in the dead of summer the volume wasn’t that bad. This doesn’t matter much from the technical perspective but after today’s pop all the major indices are positive for 2010. That [...]
Well I guess I’m flip-flopping a slight bit. I’ve been viewing the market as range-bound for several weeks but last week I was focused on channels that had a slight downward bias. The indices have since pushed above those channels (in unimpressive fashion) but have not taken out the June highs. Until [...]
Well, I’m back again. Obviously I’m still in the process of rebuilding the site after this latest crash. I’m still not sure what’s causing these issues so this may happen again. My latest guess is that it has something to do with comments. So, although I hate to do it, I’m [...]
It was a positive day for all the major indices today but the technical picture is largely the same as it was last night, despite the minor improvements in the trend table below. As the charts show, the Nasdaq and S&P 500 still seem to be building triangles. The biggest technical development was [...]
Today’s early rally hit the wall right at resistance levels. I suspect the indices will continue to chop around at least through Friday’s jobs report and possibly until whenever the government reveals the stimulus/bad-bank/”bailout 2″ plan.
The Nasdaq poked its head above both its 50-day moving average and its downward sloping January trendline but sellers [...]
The market had a promising reversal today after a weak open. Even better, the strength came on one of the highest volume days we’ve had in months. Despite those and other positive technical developments, we still need to see some follow through. Tomorrow’s big bad jobs report could provide the needed spark [...]
There’s not much to do now except wait for the market’s reaction to what Obama has to say tonight and what Geithner reveals tomorrow at 11 AM. I almost don’t want to mention the technicals given that we should be driven by the news everybody’s been waiting for. But I do see many setups (NR7s, [...]
