Today was the second day where the market traded in a tight range (Two doji’s on the S&P daily). Right now it seems we can not get above the January highs on the S&P. The 950 area can also be viewed as the end of the ‘V’ shaped rally where the Jan highs [...]
Today the market stayed above the 200 MA for the second day straight. On the last post, I discussed that if we close above the 200 MA on the daily S&P chart, then this would be very bullish for the markets. Well we did just that, however we need to stay above this [...]
Right now the S&P 500 is wedging between the 200 and 50 period moving averages (MA) on the daily chart. I think a sustained break above or below will be the tell on how the market will behave throughout the summertime. Right now, I have a bias to the downside and believe [...]
Markets have rallied strong up until now. Time to see some pullback in the markets for the rest of the month. Starting April 1st however, we will see even stronger movement to the upside going through April 15th.
So it’s finally mid-March and today is the first day of the rally that will last for a couple of months. Today we purchased some MasterCard, Google, Potash, and Wells Fargo for our Portfolio. This market will pullback so purchase any positions on pullbacks. The news that will come out over the [...]
The Dow Jones Industrial Average broke to new lows this past week along with the financial sector. This does not look well for the broader stock market. February is historically a weak month and it is turning out to be such. We are looking for a strong bear market rally to start [...]