Sentiment became euphoric Thursday on the back of META earnings yesterday afternoon sending the NASDAQ up 3.25% and the S&P 1.47%. Unfortunately – as I suggested in my blog this morning (“The Bear Market Has Been Cancelled”) – price was…
With the stock market surging higher – and key technical indicators turning bullish – it’s hard not to believe that the bear market has been cancelled. Why would stocks be rallying so hard otherwise? This is a good time to…
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…