Market Recap for Friday, December 28, 2018 Let's start with the bright spots from Friday's market action. The more aggressive NASDAQ and Russell 2000 ended the session in positive territory, gaining 0.08% and 0.46%, respectively. They both closed higher for the third consecutive day... READ MORE
Market Recap for Thursday, December 27, 2018 The final two hours on Wall Street yesterday was quite the finish. After languishing deep in red territory throughout much of the session, the bulls took complete charge into the close. The Dow Jones, down more than 600 points just past 2pm EST,... READ MORE
Market Recap for Wednesday, December 26, 2018 After gapping higher on Wednesday, our major indices retreated initially to lose all of its opening gains. The Dow Jones traded approximately 300 points higher right out of the gates, but within 90 minutes had lost those gains and was down 80 points.... READ MORE
Market Recap for Monday, December 24, 2018 It was an abbreviated session on Monday, but the losses were not abbreviated. The Dow Jones lost another 653 points, or 2.91%, while the S&P 500, NASDAQ and Russell 2000 posted losses of 2.71%, 2.21% and 1.95%... READ MORE
Market Recap for Friday, December 21, 2018 Growth stocks remain under significant pressure as the stock market is quickly repricing them based on bear market rules. While I believe the sudden drop in so many critical areas simultaneously told us of the impending S&P 500 breakdown and ensuing... READ MORE
Market Recap for Thursday, December 20, 2018 If you haven't noticed, I use a lot of weather analogies in describing the stock market. It's by design as forecasting the stock market has a lot of similarities to forecasting the weather. Meteorologists are often scrutinized as weather... READ MORE
Market Recap for Wednesday, December 19, 2018 This was a Fed day that could have lasting damaging effects. Fed Chair Jerome Powell and his band of cronies decided to ignore the one piece of data that's probably the best leading indicator - the U.S. stock market. The... READ MORE
Special Event At 4:30pm EST today, I'll be joining John Hopkins, President of EarningsBeats.com, for a special "2019 Stock Market Outlook" webinar. It's a FREE event where I'll be discussing likely market direction in 2019 and areas of the market... READ MORE
Market Recap for Monday, December 17, 2018 Every component stock in the Dow Jones Industrial Average fell on Monday as the index dropped another 500 points. The S&P 500 lost major closing price support at 2581, crude oil ($WTIC) threatened to break below $50 per barrel, small caps... READ MORE
Market Recap for Friday, December 14, 2018 The U.S. stock market suffered another big blow to its current 9+ year bull market on Friday. Culprits for the selling included Johnson & Johnson (JNJ, -10.30%) in the healthcare space (XLV, -3.37%), easily the worst performing sector, Adobe Systems... READ MORE
Not a whole lot. I guess there are three primary differences. First, there's the percentage drop as corrections are generally considered to see a drop of less than 20%, while bear markets tend to see declines well in excess of 20%. Second, a bear market tends to last... READ MORE
Market Recap for Thursday, December 13, 2018 The U.S. stock market attempted to stage rallies on Thursday, initially in the morning session and then again in the final hour. But astute technicians that follow more than the headline Dow Jones and S&P 500 numbers realized it was... READ MORE
Market Recap for Wednesday, December 12, 2018 The opening gap higher on Wednesday added to the recent stock market advance and the bulls stretched those early morning gains into the afternoon session. But much of those intraday profits faded as the session wore on and an across-the-board advance really didn&... READ MORE
Market Recap for Tuesday, December 11, 2018 Volatile action on Tuesday resulted in a bifurcated market. The NASDAQ managed to cling to gains at the close, while the Dow Jones, S&P 500 and Russell 2000 saw early morning gains turn into losses by the close. Leadership came mostly... READ MORE
Market Recap for Monday, December 10, 2018 Yesterday was significant for one very important technical development. The February 2018 low close of 2582 was within a whisker on Monday as the S&P 500 hit an intraday low of 2583 before rallying strongly. Technology (XLK, +1.38%) led the... READ MORE
Market Recap for Friday, December 7, 2018 Friday marked the end of a rough day and a rough week for U.S. equities. Strength was found in utilities (XLU, +0.37%), the only sector to end in positive territory to close out the week. Gold miners ($DJUSPM, +2.36%) and... READ MORE
Market Recap for Thursday, December 6, 2018 The Dow Jones and S&P 500 were both on a crash course for key February price support until buyers re-emerged just past 11am EST. At the low yesterday, the Dow Jones was down nearly 800 points and it had tumbled more... READ MORE
Market Recap for Wednesday, December 5, 2018 The U.S. stock market was closed. Pre-Market Action U.S. futures look set to continue Tuesday's rout. The 10 year treasury yield ($TNX) is lower by 3 basis points to 2.89% as money seeks out safety in the defensive... READ MORE
Market Recap for Tuesday, December 4, 2018 Don't be swayed by market commentary that discusses lack of volume yesterday as a positive. First of all, the Dow Jones fell 800 points. 800!!! And that's somehow a positive? We lost 20 hour EMA support on the intraday... READ MORE
Market Recap for Monday, December 3, 2018 Global stocks were buoyed on Monday by the United States and China agreeing to delay further tariffs for 90 days to provide the two countries an opportunity to work through its trade differences. Obviously, nothing has been resolved and it simply pushes back... READ MORE
Market Recap for Friday, November 30, 2018 Friday's strength capped off a very solid week for the bulls, one in which the Dow Jones gained more than 1250 points. Strength was found everywhere although healthcare (XLV, +2.03%) and utilities (XLU, +1.48%) were the big winners to... READ MORE
Everybody wants the secret formula. You know, the one where you never lose money. Well, I haven't found THAT one yet, but trading companies that have recently beaten Wall Street revenue and EPS estimates is a fairly solid runner-up strategy. A company that produces results in excess of... READ MORE
Market Recap for Thursday, November 29, 2018 Before I discuss strength and weakness from the mixed action on Thursday, let me first say that the Volatility Index ($VIX) remains one of my biggest fears about the current state of the market. In the morning yesterday, the VIX touched its high... READ MORE
Market Recap for Wednesday, November 28, 2018 Wall Street finally (!) had a day where the bulls could smile at 4pm EST. It was a trend day where the buying begins early and continues throughout the trading day. These days tend to be very bullish, although there is still plenty to... READ MORE
Market Recap for Tuesday, November 27, 2018 One highlight from Tuesday's action is that the U.S. Dollar ($USD, +0.31%) remains in favor as it nears yet another breakout. This is important on a number of fronts, especially with respect to gold ($GOLD, -0.74%). There'... READ MORE
Market Recap for Monday, November 26, 2018 Yesterday marked the first day in quite awhile where we saw all of our major indices higher, along with all of our sectors. All eleven sectors gained ground, even the defensive sectors - though they lagged badly on a relative basis. Leading the... READ MORE
Market Recap for Friday, November 23, 2018 Friday's action was disappointing on a couple of different levels. First, the Friday morning attempt at a rally failed midday and sellers emerged into the close. It was somewhat similar to the action on Wednesday when the early morning gap higher... READ MORE
Market Recap for Wednesday, November 21, 2018 Wall Street was mostly higher on Wednesday, although, by just about any other measure, it was a disappointing session. The early morning gap higher was essentially where the bullishness ended and there was a slow drift lower throughout the balance of the day.... READ MORE
Market Recap for Tuesday, November 20, 2018 It was another ugly day for U.S. equities as the February price support on our major indices draws closer and closer. Volatility shot higher as panicked, impulsive selling once again gripped Wall Street. Energy (XLE, -3.28%), consumer discretionary (XLY, -2.26%... READ MORE
Market Recap for Monday, November 19, 2018 I'd like to say something good about yesterday's action on Wall Street, but I don't think there's anything to be said. Impulsive selling returned with little in the way of a bid on technology stocks... READ MORE
Special Event Join me and John Hopkins, President of EarningsBeats.com, after the bell today for a 4:30pm EST webinar. I'll be discussing the stocks that I believe represent the best trading opportunities of Q4. These stocks all posted better-than-expected quarterly revenues and EPS and significant accumulation... READ MORE
Trading is difficult, emotional and can be quite lonely. We have seen volatility ($VIX) shoot higher, rising from an 11.61 close on October 3rd to a high of 28.84 on October 11th. Since then, we've remained above the key 16-17 support level that typically holds during... READ MORE
Reminder I post a blog article every morning that the stock market is open in a format similar to today's article. If you haven't already subscribed (for FREE) and would like to, simply scroll to the bottom of this article and type your email address into... READ MORE
Market Recap for Wednesday, November 14, 2018 In a rare twist, communication services (XLC, +0.49%) was the only sector to gain ground yesterday. The group has underperformed the S&P 500 badly since its July relative high with Facebook's (FB) quarterly earnings report on July 25th... READ MORE
From a trading perspective, I wanted to give you a quick idea of what I look for in a trade. I bought Tandem Diabetes Care (TNDM) when it crossed back above 31.21 and I'll hold it unless it closes beneath 31.00 or moves intraday beneath 30.... READ MORE
Market Recap for Tuesday, November 13, 2018 Losses weren't big on Tuesday as the Dow Jones dropped just 0.40% and was the worst performing of our major indices. But it seemed to be more of a continuation of the recent downtrend as all key areas of the... READ MORE
Market Recap for Monday, November 12, 2018 Welcome back bears. Welcome back volatility. It was another day of steep losses on Wall Street, underscoring the likely end to what the bulls were hoping was a sustainable rally back to recent highs. There was a major test last week for the... READ MORE
Market Recap for Friday, November 9, 2018 There was a return of strength in defensive sectors on Friday as consumer staples (XLP, +0.58%), utilities (XLU, +0.15%) and real estate (XLRE, +0.12%) were the only sectors to finish the session in positive territory. There was also significant relative... READ MORE
Market Recap for Thursday, November 8, 2018 Well, another Fed day has come and gone. The FOMC ended its two day meeting and left rates unchanged, as expected. It promised, however, further gradual increases. If you recall, the spike in the 10 year treasury yield ($TNX) to 3.25%, a... READ MORE
Market Recap for Wednesday, November 7, 2018 The Dow Jones surged 545 points, or 2.13%, yesterday and that index of conglomerates was a laggard. NASDAQ stocks exploded nearly 200 points higher, or 2.64%, to extend what's been a very impressive rally after October's massacre.... READ MORE