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….
Monday’s trading session was a yawner with the S&P +0.09%, the NASDAQ +0.07% and the Russell +0.23%. Tomorrow is likely to be different as the real action was after the close when PayPal (PYPL) reported 3Q earnings. A $268 billion…
It is late in game but Big Tech is showing incredible resilience and has not rolled over. Until it does, the indexes will continue to grind higher, masking the weakness beneath the surface in smaller and lesser known stocks that…
The bullish sentiment for a year end rally is palpable. The Russell 2000 Small Caps ETF (IWM) closed up 49 cents (0.21%) on average volume Tuesday – hardly a convincing move – and yet the Twitter technicians were jumping over…