At some point, probably some point soon, stocks will bounce. There are still bulls out there and at some point some will step in and start buying stocks. The question is: How much of a bounce can we expect? Personally,…
The selloff is accelerating here in the afternoon and we are rapidly approaching key support levels that need to hold if the bull market is intact. Here is where indexes are now and where key support is (in my opinion):…
A lot of important earnings news affecting the market today: Oracle (ORCL), Nike (NKE), Bear Stearns (BSC), Federal Express (FDX) and Winnebago (WGO). ***** Everybody pretty much knew Bear was going to report an ugly quarter and they in fact…
Take a look at a YTD Goldman Sachs Chart. Especially zero in on the last 6 weeks (GS 2 Month Chart). Notice the zigging and zagging: After closing around $248 on Wednesday October 31st, Goldman’s shares sold off over the…
If you look at a chart of the S&P for the last 6 months, the action is really bearish from a technical standpoint (S&P Downtrend Chart). We had a double top around 1560 (July 19, Oct 9). And now we’ve…
BeSpoke Investment Group put up an interesting post, with fabulous charts as usual, this morning on sector relative performance over the last year. They also included red dots to indicate the four rate cuts (Aug 17, Sept 18, Oct 31,…
“The logic for this move still escapes me, but what’s logic got to do with it? Nothing.” – Larry McMillan (subscription required), Principal, McMillan Analysis Corp. I am convinced that the big move up we’ve seen in the stock market averages…
“The Standard & Poors is now challenging 1490 once again, and if it can move significantly through that level it will have proved itself worthy of another run at its old highs.” – Michael Kahn, “The Bulls Have The Ball…
“Starting on the fourth day of the attempted rally, look for one of the major averages to ‘follow through’, meaning it shows a booming 2% or more gain on heavier volume than the day before. This tells you the rally…
I’ve now heard this three times in the last 24 hours, twice by technical analysts I respect and once on CNBC yesterday afternoon by I forget who. 1490 on the S&P seems to be some kind of line in the…