The Omicron variant that hit financial markets Friday has created an enormous amount of uncertainty and – as COVID reporter Kai Kupferschmidt writes – that uncertainty is likely to persist for the next few weeks as scientists gather and analyze…
I contend that we have been in a trading range between 15,500 and 16,000 on the NASDAQ since the start of November. Which way that gets resolved will determine the direction of the market in the immediate term IMO. While…
The destruction of important but not leading tech stocks continued Tuesday. Pandemic darling Zoom (ZM) reported decent earnings Monday afternoon but the market was merciless Tuesday crushing shares to the tune of -14.71% on big volume. I personally felt like…
While my focus is the intraday reversal in the QQQ and a potential market top, a secondary story Monday was earnings from pandemic darling Zoom (ZM). The report looked fine to me with revenue of $1.051 billion and EPS of…
It’s a crazy thing to say but: Despite the S&P and NASDAQ each closing at new ATHs Thursday, the market is in serious trouble. That’s because breadth has fallen off a cliff and the market is being carried by a…
While the major indexes were only down moderately Wednesday with the S&P -0.26% and NASDAQ -0.33%, things were much worse beneath the surface. NYSE + NASDAQ Advancers to Decliners was 2,588 / 5,426. That is, there were about 2 Decliners…
Monday was a quiet day in the market with the S&P flat, NASDAQ -0.04% and Russell +0.45%. NYSE + NASDAQ breadth was slightly negative and volume was down 13% from a week ago. I think the market was essentially in…
The market had a marginal bounce Thursday after two days of selling with the NASDAQ +0.52%, S&P +0.06% and Russell +0.82%. I wouldn’t get too excited if I was a bull because in addition to the gains being limited, volume…
Stocks had their worst day in recent memory Wednesday with the S&P -0.82%, the NASDAQ -1.66% and the Russell -1.55%. The red ink may not let up tomorrow as Disney (DIS) – another one of the 25 most important stocks…
Tesla (TSLA) stock went parabolic a couple weeks ago so it was always a matter of when not if it was going to reverse. Tuesday turned out to be the day with TSLA -11.99% or $157 billion in market cap….