Market Update Happy New Year Stocks bounced last week on very light volume and are now sitting right below multiple layers of resistance. Even with last week’s bounce, stocks are still in a downtrend. The advance we saw in stocks last week has...
Archive - 2015
House of Cards
Market Update House of Cards , I believe the stock market is in the process of rolling over. Support that was created last month was violated this past week. The next level of major support are the lows of August-September which is 6-7% below...
Broken Wedge
Market Update In last week’s newsletter I wrote: “The only real positive that I see currently is market action. Stocks have been able to establish a pattern of higher-lows and this is now going to act as support for stocks. On the...
Dark Clouds On The Horizon
Market Update Dark Clouds On The Horizon Stocks ended the week about where they started, but this does not tell the whole story. Stocks fell hard on Thursday dropping 1.44% on high volume. Then on Friday stocks bounced decisively on even higher...
Gobble, Gobble
Market Update Gobble, Gobble I am sending out my newsletter early this week since markets are closed today for Thanksgiving and only open half a day tomorrow. My comments are abbreviated because nothing changed this week. Stocks ended the day...
The Good The Bad And The Ugly
Market Update The Good The Bad And The Ugly The market decline that started a few weeks ago ended this past week. The decline retraced only about 33% of the previous uptrend. Momentum has turned positive. While I believe that short term the...
Where Is The Bottom
Market Update Where Is The Bottom Stocks fell hard this week. For the week the S&P 500 dropped 3.6%. Slowing global growth is an ongoing issue and one that is not going away any time soon. This is having a negative effect on stocks. Now that...
Stocks Change Direction
Market Update Stocks Change Direction I am publishing this week’s newsletter a little late because I thought today’s market action would offer confirmation of a short-term trend reversal. Based upon the market action over the last week...
Recent Market Advance Looking Very Suspect
Market Update Recent Market Advance Looking Very Suspect Stocks meandered sideways this week ending with a small gain (.2%). Stocks are sitting right below heavy resistance and slightly above their 200-day moving average (DMA). The stock market...
Line In The Sand For Stocks
Market Update Line In The Sand For Stocks Last week I wrote about how the market advanced through a couple layers of resistance and was looking somewhat more bullish. Well the market advanced again this week, and it seems like everyone is now...