Year: 2019

The major stock market indexes were swamped by intense Distribution (professional selling) again today and undercut their 50 day moving averages like a Jianshi warriors sword through bamboo. A rejection by the Chinese to buy American farm products and a simultaneous blatant devaluation of their currency pushed global stock markets off the Great Wall. Our “core 4” market internal indicators are now all in the RED zone and our Current Market Outlook has been downgraded

Has the Powell pivot turned into a Powell pounding? Probably not. It seems like the 1/4 percent rate cut was meant to be more of a present given to the stock market than a punishment. But at least for today, the market pouted that it didn’t get its 1/2 percent cut. The main stock market indexes succumbed to intense professional selling (aka Distribution), which started during Fed Chief Jerome Powell’s press conference, and as of

The summers heat is not the only thing that’s hot right now! Continued record closing highs on the S&P500 and the Nasdaq, and a 1.6% surge in the heretofore struggling Russell 2000 small-cap index turned up the heat on the bear camp today. Our Current Market Outlook remains “Market in an Uptrend” with a “green” light. We are calling this bull move “The Timex Rally”. Why? Because it takes a licking and keeps on ticking.

New all-time highs on the S&P 500 are creating fireworks in the financial media! With the Nasdaq and Dow Jones Industrial indexes just a whisper away themselves, our Current Market Outlook remains “Market in an Uptrend” with a “green” light. Two weeks ago we wrote, “For now, Mr. Market is saying “do as I do, not as the news media says”. The markets’ internals continue to improve and the rally is expanding. No Distribution Days

How tweet it is! (Please pardon our humor, but with todays market action we couldn’t resist.) The Presidents early morning positive tweet about upcoming trade talks with China sparked a buying frenzy and caused the major stock market indexes to bolt ahead on strong volume. In the process, todays move confirmed the June 7th follow-through day and caused an upgrade in Our Current Market Outlook to “Market in an Uptrend” with a “green” light. For

Today the market celebrated hopeful good news regarding Mexico like it was cinco de mayo, and in the process confirmed a “follow-through day” (FT day) on day 4 of its new rally attempt. Then after the close today President Trump announced an indefinite suspension of tariffs on Mexican goods coming into our country. While this news is good and should bode well for a continuation of the current rally, investors should watch the market action

The major stock market indexes rebounded sharply today after setting new price lows for this current correction just yesterday. While the strong snap-back rally in response to Fed Chairman Powell’s dovish comments this morning was encouraging, officially today was only day 1 of a new rally attempt. Unfortunately, todays move came with lower total trading volume than the previous days rout. As such, our Current Market Outlook remains “Market in Correction” with a “red“ light.

Our Current Market Outlook has changed to “Market in Correction” and our light is now “red“. The stock markets uptrend has slipped into a correction. With last nights fourth consecutive close under the 50 day moving average by the Nasdaq and the S&P500, and this mornings “fears of global economic slowing” sharp sell-off on top of an already weak technical backdrop (mentioned yesterday), our official signal is now downgraded to a “red” light. Investors and

Our Current Market Outlook remains “Uptrend Under Pressure” and our light is still “yellow“. The stock markets uptrend is hanging on by a technical thread. With three successive closes under the 50 day moving average by the Nasdaq and the S&P500, the market must make an immediate strong move up to keep from succumbing to the growing selling pressure and being downgraded to a “red” light. On a more positive note, the market is on

Our Current Market Outlook has been changed to “Uptrend Under Pressure” and our light is now “yellow“. The stock market came under significant selling today in response to escalating trade tensions with China, and in the process knifed through the first of two key moving averages and sank further under an important trendline. The bulls ability to support stocks and drive prices into all-time high territory will face a major test this week as worries