Get your beauty sleep this weekend because next week is poised to be epic. In addition to a Fed Decision on Wednesday, we have Big Tech earnings. The market ramped up last week with the S&P breaking out above its…
Technical Analysis is bullshit. You can always find a line to draw that makes it look like support or resistance. For example, I remember technicians on Twitter talking about the 200 Week Moving Average being support at the end of…
Those of you who have followed me for a long time probably thought you’d never hear this: Tesla (TSLA) is a buy. My beef with TSLA was always that it was significantly overvalued but that is no longer the case….
It’s been a few days since last Thursday’s stunning reversal giving us some time to sort out what it means. As predicted some found technical analogies to support the idea that the price action suggested a bottom was near. The…
The much anticipated September CPI Report came out this morning before the market opened hotter than expected. The CPI increased 8.2% year over year and 0.4% month over month – above expectations. The Futures were up big before the report…
On Friday morning the BLS reported that the US economy added 263,000 jobs in September – a solid report. But the S&P dropped 2.80% and the NASDAQ 3.80%. Why? Because we are once again in the “bad news is good…
The technicians never cease to amaze me. The fundamental principle of Technical Analysis is: Don’t Fight The Trend. And as you can see from the trendlines I’ve drawn on the NASDAQ above: the trend is clearly down. And yet –…
Two weeks ago people were talking about the end of the bear market and a new bull market. Now – after Powell’s speech – the narrative has completely reversed course and most seem to be expecting new lows imminently. In…
While the technicians continue to see downtrends and consolidations, the market is now headed higher for the intermediate term. By the time the technicians have their price “confirmation” the rally will be mostly over and it will be time to…
Sentimentrader had a fascinating chart out today showing that the number of articles mentioning “bear market rally” is double the number during the March 2020 COVID Crash. I’m noticing that even bulls think this is only a bear market rally….