SentimenTrader posted a chart Thursday afternoon showing that 44% of NASDAQ stocks are down at least 50% from their highs. And yet the NASDAQ index as a whole is only down 17% from its high. What gives? As I’ve been…
The NASDAQ appears to me to be in serious technical trouble. For a while now, I’ve been writing about the “stealth bear market”. That is, important but not leading stocks have been breaking down beneath the surface without doing much…
On Thursday, the bears got to the generals, breaking many of them down below key support levels. The QQQ closed below the crucial $380 for the first time since late October 2021. Microsoft (MSFT) – the 2nd largest stock in…
On Monday March 23, 2020 before the market opened – in the midst of the COVID panic – Chairman Powell essentially told financial markets that he would do whatever it took to support financial markets: The Federal Reserve will continue…
The S&P was -0.87%, the NASDAQ -2.47% and the Russell -1.95% Thursday. All of the NASDAQ’s Wednesday post-Fed gains and more were erased. Apple (AAPL) – the market’s leading stock – was -3.93%. QQQ got hit hard but once again…
My best guess is that nothing much will change with QQQ, IWM and ARKK through year end. I can’t rule out QQQ breaking out to the upside but IWM likely won’t resolve its range until next year and ARKK will…
The stock market had a big day Monday recouping most of its losses from Friday. The S&P was +1.32% and the NASDAQ +1.88%. However, a look beneath the hood shows the same problem I’ve been harping on for at least…
I got it wrong. Early Friday morning I asked “Is the bull market over?” and answered that – while no certainty was possible on such a question – I believed that in the wake of the negative reception to Apple…
The most important earnings this week were Microsoft (MSFT) and Google (GOOG / GOOGL) Tuesday afternoon and now Apple (AAPL) and Amazon (AMZN) Thursday afternoon. The former posted stellar results and carried the market higher for most of the day…
While Wednesday might have seemed like just an ordinary day with the S&P -0.51% and the NASDAQ flat, it was anything but. While the indexes were seemingly placid, beneath the surface most stocks got hit. Strong earnings from Microsoft (MSFT)…