Year: 2023

The Triumphant Core Four NYSE Internals Moving Averages Professional Selling Investor Sentiment  A Bad Apple The big boys and girls on Wall Street appear to be using today’s Apple hype as a source of strength to sell into, at least in tech land. After shooting back above the key 50-day mav’s on the Apple news just after 1pm ET, both the Nasdaq and the S&P 500 have since slipped back under them and on higher

The Triumphant Core Four NYSE Internals Moving Averages Professional Selling Investor Sentiment  A Test of the 50-Day is Here The stock market has caught itself so far this week in response to Powell’s speech last Friday and in front of key economic data coming this Thursday & Friday. As of 10am, the SPX crossed over a key price level on higher volume which has caused our Current Market Outlook to be upgraded to a yellow

The Triumphant Core Four NYSE Internals Moving Averages Professional Selling Investor Sentiment  More Like a “Dead Cat” Bounce Well that was quick, and ugly. Some bounce, huh! Basically 3 days and 30 minutes of oversold buying and then a smack down. The major indexes have met enormous resistance at their overhead 50-day mav’s and have NOT bettered and held key price levels (see yesterday’s post). Nvidia’s numbers apparently are not enough to offset the fear

The Triumphant Core Four NYSE Internals Moving Averages Professional Selling Investor Sentiment  The Bounce Has Begun! The expected bounce we wrote about last week is here. Whether it holds or not and leads to a resumption of an uptrend will largely be determined yet this week. Nvidia’s earnings release comes after the close today and then there is Powell… and his speech at Jackson Hole on Friday. With today’s price action, our Current Market Outlook has

The Triumphant Core Four NYSE Internals Moving Averages Professional Selling Investor Sentiment  “Higher Rates? Head for the Gates!” We coined that expression just last week and it is already making its presence felt as selling pressures are growing, especially on the Nasdaq, due to higher rates. As a result, our Current Market Outlook has been downgraded to “Market in a Correction” with a red light as of 10am ET today (SPX @ 4,413.09). Our “Core

The Triumphant Core Four NYSE Internals Moving Averages Professional Selling Investor Sentiment The “Not So Magnificent Seven” But “beware the tech behemoths!” We made that statement in our last post (July 19th) just as the Nasdaq was hitting highs for the year. The math of the market (as discerned by our proprietary “Core Four” daily market internals formula) warned us things were deteriorating and caused a downgrade to yellow (caution) in our “Current Market Outlook.”

The Triumphant Core Four NYSE Internals Moving Averages Professional Selling Investor Sentiment Selling (Profit Taking) Beginning to Make Itself Felt With stealth selling starting to take place under the stock market’s surface (especially in Tech-land), our Current Market Outlook was downgraded to “Uptrend Under Pressure” with a yellow light as of noon today (SPX at 4,574.31). Our “Core Four” (see top of page) now has 2 green, 1 Yellow and 1 red light with a

The Triumphant Core Four NYSE Internals Moving Averages Professional Selling Investor Sentiment The Only Thing Hotter than Summer: Stocks? Our Current Market Outlook was upgraded to “Market in an Uptrend” with a green light at last night’s close (SPX at 4,472.16). Our “Core Four” (see top of page) now has 2 yellow and 2 green lights with a hibernating VIX. With the “dog days” of summer pressing in, the popular indexes are acting more like

The Triumphant Core Four NYSE Internals Moving Averages Professional Selling Investor Sentiment Be Careful Out There Our Current Market Outlook has been downgraded to “Uptrend Under Pressure” with a yellow light as of today’s close (SPX at 4,446.82). Our “Core Four” (see top of page) still has 2 yellow and 2 green lights but with a bottoming VIX. Keep a sharp eye on the VIX in the days ahead as an important confirming signal. With

The Triumphant Core Four NYSE Internals Moving Averages Professional Selling Investor Sentiment God, Please Bless America… Again Our Current Market Outlook was upgraded to “Market in an Uptrend” with a green light at 10:30am today (SPX at 4,344.29). Our “Core Four” (see top of page) has 2 yellow and 2 green lights. The Fed’s pause in interest rate hikes earlier this month has fueled the recent rally in growth stocks and the general stock market