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 last year. Not the 200 Day Moving Average – mind you – because the S&P…
ANOTHER BEAR MARKET RALLY: The stock market has rallied nicely the last couple of months and once again the bulls are saying the bottom is in. It isn’t. Like March and August this is another bear market rally – though that likely will not become apparent until next year. 2023 RECESSION: Recession is in the…
When I go out I like a burger with fries or a margarita with salt. But that’s not what the market is serving. We’ve got a Fed pivot with weak earnings. What should we do? Obviously a Fed pivot – if it really is finally upon is – is bullish and accounts for the second…
I’m not trying to scare anybody but I have a premonition that something is about to break. The relentless move higher in the dollar and the ten year treasury yield is tightening global financial conditions on a daily basis. The vise grip is being squeezed; the frog is approaching the boiling point. Central banks around…
Perhaps the most important thing ever written on trading is Chapter 5 of Reminiscences of a Stock Operator – Jesse Livermore’s story. In that chapter, Jesse introduces us to Partridge. When told to sell his position in a winning stock and buy it back on a sure to come reaction, Partridge resists saying “It’s a…
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 of late. QQQ closed just below the key $400 level at $399.61 – on very…
Monday was a quiet day in the market with the S&P flat, NASDAQ -0.04% and Russell +0.45%. NYSE + NASDAQ breadth was slightly negative and volume was down 13% from a week ago. I think the market was essentially in a holding pattern ahead of big earnings reports from Home Depot (HD) and Walmart (WMT)…
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Note: To sign up to be alerted when the morning blog is posted to my website, enter your name and email in the box in the right hand corner titled “New Post Announcements”. That will add you to my AWeber list. Each email from AWeber has a link at the bottom to “Unsubscribe” making it…
Note: To sign up to be alerted when the morning blog is posted to my website, enter your name and email in the box in the right hand corner titled “New Post Announcements”. That will add you to my AWeber list. Each email from AWeber has a link at the bottom to “Unsubscribe” making it…