Market In Range Defined By 1270-1400 On S&P
This looks like the 8th week (starting Mon Jan 22) in which the S&P 500 is trading within a range of 1270-1400 (S&P 1270-1400 Chart). What has worked during this time is to sell at the top of the range…
This looks like the 8th week (starting Mon Jan 22) in which the S&P 500 is trading within a range of 1270-1400 (S&P 1270-1400 Chart). What has worked during this time is to sell at the top of the range…
“The Fed’s Hallelujah Rally”, MarketBeat “Short Covering Rally?”, BeSpoke Investment Group “S&P 500 Technicals”, BeSpoke Investment Group – is this a double bottom? “Bear Stearns: What Went Wrong”, TraderTalk – CNBC’s NYSE floor reporter on Punk Ziegel analyst Richard Bove’s note…
I think we’re about one bad day away from a real good buying opportunity. The Nasdaq and S&P both closed below their previous closing lows for the year. Both are also real close to their Jan 22-23 intraday lows. The…
A fun and interesting excercise in technical analysis from The Big Picture.
Yesterday after the close, Intel (INTC) lowered its forecast for 1st quarter gross margins from 56% plus or minus a couple of points to 54% plus or minus a couple of points (INTC Press Release). Intel shares are down about…
It’s been a nice three day rally since rumors from bond insurer land helped the indexes surge in the last hour last Friday. S&P took MBIA (MBI) off CreditWatch on Monday and reaffirmed Ambac’s (ABK) AAA rating. Yesterday’s announcement by IBM of…
Many of the respected technicians I follow see the market indexes currently forming a wedge. This is a series of lower highs and higher lows that form a tighter and tighter range (see, for example, S&P Wedge Chart and QQQQ Wedge…
“The January retail sales data is not consistent with either same store chain sales or total vehicle sales during the sampling period.” – Joseph Brusuelas, IDEAglobal The surface rationale for today’s move is a stronger than expected January Retail Sales…
The $/Euro seems to have formed a triple to top around $1.50 with the most recent peak occuring in just the last few days ($/Euro 6 Month Chart). Today, the European Central Bank (ECB) decided to hold rates steady but…
A rally today in the face of [the Jobs Report] would help show that the market is convinced of three things: 1) the bottom has already been put in, 2) if we’re in a recession, that it won’t last long due to…