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…
Stocks drifted higher on low volume Wednesday. The S&P was +0.31%, the NASDAQ +0.64% and the Russell +0.80%. NYSE + NASDAQ Advancers to Decliners were 5,141 to 2,883 and volume of 8.8 billion was light relative to what we’ve seen…
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…
We are likely to see a bounce fairly soon but it will only be a Dead Cat Bounce in a new bear market. Indeed, based off the futures it looks like bulls are going to buy the open this morning…
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, November 30 Tuesday night I wrote that…
Coming into this week, Omicron and its effect on Fed policy was the crucial dynamic. NorthmanTrader nicely summarized it in the above tweet. On Tuesday, Powell threw bulls for a loop when he was far more hawkish than expected in…