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…
Up until this point, we have experienced what I have termed a “stealth bear market”. That is, many of the important but not leading stocks have been beaten down. For example, as Willie Delwiche tweeted yesterday in the chart above,…
Stocks fell again Monday on concerns about Omicron and Senator Manchin blocking the Build Back Better stimulus bill. The S&P was -1.14%, the NASDAQ -1.24% and the Russell -1.57%. NYSE + NASDAQ Advancers to Decliners were 1,933 to 6,121 on…
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…
Friday morning’s much anticipated November CPI Report came in essentially inline with expectations with headline inflation up 6.8% year over year and 0.8% month over month. This likely means the Fed will go ahead with its accelerated tapering plan next…
After a strong three day bounce, the market softened Thursday with the S&P -0.72%, the NASDAQ -1.71% and the Russell -2.27%. NYSE + NASDAQ Advancers to Decliners were 1,997 to 6,030 on relatively mild volume of 8.3 billion shares compared…
Bulls took back control of the stock market Tuesday with a massive relief rally that sent the S&P +2.07%, the NASDAQ +3.03% and the Russell +2.28%. This is more than a bounce at this point and the bulls have the…
I do expect bulls to make a stand next week – perhaps as early as Monday morning. While everything else is technically broken, the QQQ has not cracked yet. While QQQ did take out $390 last week, it found support…
IMO a decisive break below and failure to reclaim $390 would mean that the bull market is likely over. I wouldn’t be surprised to see it happen this week – Top Gun Financial, Tuesday 11/30 Bears took control of the…
Day by day it is becoming clearer to me that the stock market is in the last throes of the great bull market that began on March 9, 2009. That’s because more and more smaller and lesser known stocks are…