NASDAQ 100 Right on Schedule. Gold and Energy Opportunity
For the past month or so, I have focused much of my commentary on the NASDAQ 100 as it had been the far and away market leader before getting hit with the ugly stick from late May to early July. Late last week, things began to change and I saw the NASDAQ 100 looking a little better in the short-term. On Friday, the bulls, especially in tech and the NASDAQ 100 did step up with the anticipated bounce beginning. That’s […]
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Date: July 10, 2017
Slow Change in the Tide
As you know, the NASDAQ 100 and tech have been downright ugly overt the past 6 weeks. From leader and media darling, this huge sector, including the much vaunted FAANG stocks have been hit very hard although there hasn’t been significant technical damage done. I posted a few charts over the weeks showing a very defined trading range where a close outside the range would give the bulls or the bears the clear edge. Otherwise, a neutral stance was the […]
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Date: July 7, 2017
Market Remains Uneven But No Big Decline Coming
I hope everyone had a festive July 4th holiday with family, friends, food and libations! Thanks to all those who have served to fight for and protect our freedom as the greatest nation on earth. We pick up mid-week no different than on the holiday shortened Monday or last week. It’s a tale of two markets, the NASDAQ 100 and the rest of the major indices. On Monday, where I felt like one of the few who worked, the Dow […]
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Date: July 5, 2017
NASDAQ 100 Still Ugly
Those looking for volatility certainly got their wish this week as moves were seen Monday, Tuesday, Wednesday and Thursday. With Friday being the start of an unofficial four day weekend, I doubt there will be much action without a major news event. In Wednesday’s piece, I offered that stocks could bounce into the 4th holiday and then see some more downside, especially in the NASDAQ 100. Well, Thursday didn’t work out so well for that forecast! At the open, all […]
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Date: June 30, 2017
NASDAQ 100 to Bounce and then Fully Correct
As has been the case since the big “shock” day in the NASDAQ 100 on June 9, I have been a little cautious (neutral) on that index and more positive on the Dow and S&P as it looked like leadership was rotating. In healthy bull markets, this is normal and a good thing. The problem comes when leadership stops rotating into the more aggressive sectors and heads into the defensive ones like staples, utilities and REITs. Tuesday saw follow through […]
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Date: June 28, 2017
Fakeout or Breakout
Friday saw the most constructive market action of the week with the little pullback seeming to come to an end. Early indications are that the bulls will continue moving stocks higher today. Starting with the NASDAQ 100, for now, until the June high or low is closed above or below respectively, I am going to remain in the neutral camp although I continue to believe that new highs will be eventually seen. It looks like the index’s leadership role has […]
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Date: June 26, 2017
Pretty Good Little Fight
It’s been 24 years since I moved out of New York City to the calm and quiet of CT. I love hearing nature at night in my pitch black bedroom instead of the horns and trucks driving down the avenues. I stayed in the city last night as I had an early conference for our custodian this morning at the NYSE and I wasn’t really interested in getting up at 4:30am to train in. Well, I forgot how loud the […]
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Date: June 23, 2017
Seasonals Say No, But Bulls Say Yes
The major stock market indices closed last week on decent footing and should be poised for further gains with the Dow and S&P 500 seeing new highs first . Even the recently hit NASDAQ 100 hung in and remains above the line in the sand I drew last week. However, this week is a seasonally weak one as it’s the five days immediately following June option expiration. We’ll see how that plays out as pre-market indications show a higher open. […]
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Date: June 19, 2017
Bulls Still in Charge (as is Amazon!)
The major stock market indices put in a very constructive day on Thursday with stocks opening at their lows for the day and closing in the upper end of the range. The beaten down NASDAQ 100 saw the best behavior as it tries to repair itself from two unexpectedly large and volatile down days over the past month from all-time highs. One clue will be a weekly closing price for this index and the semiconductors near the high for the […]
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Date: June 16, 2017
Stocks Looking Down After Rate Hike
Everything happened as expected on Wednesday. Stocks stayed in a tight range until 2PM. The Fed raised rates. Yellen spoke about reducing the balance sheet. And the bullish Fed trend was significantly muted. Given how stocks closed, there is a very short-term trend which indicates lower prices today and possibly into next week. However, with the stock market set to open lower, the opportunity to take advantage is likely gone. The Dow is now the leading index and that’s not […]
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Date: June 15, 2017
