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QQQ Testing 200 DMA, Keep An Eye On The $

QQQ Testing 200 DMA, Keep An Eye On The $

March 31, 2022 Reading Time: 8 minutes

The 200 DMA is the most fundamental line in technical analysis. By definition, securities and indexes that are above upward sloping 200 DMAs are considered to be in uptrends. Conversely, securities and indexes that are below downward sloping 200 DMAs…

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Rising Interest Rates Hit Tech Stocks

Rising Interest Rates Hit Tech Stocks

March 15, 2022 Reading Time: 3 minutes

After a correction in the wake of Russia’s invasion of Ukraine, interest rates have resumed their uptrend with the 10 year treasury yield jumping 14 basis points to a 52-week high of 2.14% Monday. As I’ve discussed many times of…

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BMBL Provides More Evidence For My Bifurcated Market Thesis

BMBL Provides More Evidence For My Bifurcated Market Thesis

March 10, 2022 Reading Time: 6 minutes

The market is bifurcated into the mega cap tech stocks that have held up well so far – and thus propped up the indexes – and the smaller but still important stocks that have already suffered brutal bear markets. My…

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QQQ < $380, NASDAQ Closes At 3-Month Low

QQQ < $380, NASDAQ Closes At 3-Month Low

January 14, 2022 Reading Time: 3 minutes

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…

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Bears Get To The Big 7 – And It May Not Be Over

Bears Get To The Big 7 – And It May Not Be Over

January 6, 2022 Reading Time: 5 minutes

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,…

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Stocks Fall Again On Omicron And Manchin

Stocks Fall Again On Omicron And Manchin

December 20, 2021 Reading Time: 2 minutes

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…

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Bear Market To Begin In 2022, Defense Wins Championships

Bear Market To Begin In 2022, Defense Wins Championships

December 17, 2021 Reading Time: 3 minutes

Stocks were mostly under pressure again Friday with the S&P -1.03%, NASDAQ -0.07% and Russell +1.00%. QQQ lost its 50 DMA but I expect $380 to hold through year end. NYSE + NASDAQ Advancers to Decliners were 3,902 to 4,108…

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First They Shoot The Soldiers, Then They Shoot The Generals

First They Shoot The Soldiers, Then They Shoot The Generals

December 16, 2021 Reading Time: 2 minutes

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…

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Stocks Reverse Higher On Fed

Stocks Reverse Higher On Fed

December 15, 2021 Reading Time: 4 minutes

The expectation heading into Wednesday’s Fed Decision is that the Fed will double the pace of its taper to $30 billion/month. That much has probably been priced into markets after Tuesday’s session. Further, my guess is that Chairman Powell will…

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Two Scoops Of Hawkishness With A Dovish Cherry On Top

Two Scoops Of Hawkishness With A Dovish Cherry On Top

December 15, 2021 Reading Time: 3 minutes

The expectation heading into Wednesday’s Fed Decision is that the Fed will double the pace of its taper to $30 billion/month. That much has probably been priced into markets after Tuesday’s session. Further, my guess is that Chairman Powell will…

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I dropped out of Philosophy graduate school to start Top Gun in 2006 to profit from the bursting of the housing bubble. The stock market peaked in 2007 and Top Gun beat the S&P by more than 50% in 2008... Learn More

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