Market Stretched in Short-Term But Intermediate-Term Remains Bright
During strong initiations off a bottom, price just powers higher seemingly day after day without much pause. The most beaten down stocks rally the most and the bears claim it’s all “short covering” and doomed to fail. But it doesn’t. Slowly,one by one, the bears stop disavowing the rally and become silent. Each short-term overbought condition hears some renewed calls for more downside, but typically there’s nothing more than a few day pullback of 1-3%. Since the current rally began […]
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Date: March 7, 2016
GOP Ganging Up on Trump… AGAIN
One of the great things about flying JetBlue is that every seat has a TV so I was able to watch the GOP debate on one channel and the UCONN men’s game on another as I flew to Reno. Boy was that debate painful! Did anyone learn anything new? It is clear to me that the Rubio and Cruz camps got together and agreed to a moratorium on attacking each other so they could collectively attack Donald Trump. They must […]
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Date: March 4, 2016
What do the Bears Say NOW?
Late last week, I wrote in Another 7% in the Cards that stocks were far from done going up. If you missed that post, it’s a good one to go back an peruse. That’s the same message I offered a day after the bottom in February and I have updated the S&P 500’s chart below. With Tuesday’s huge rally to open the month of March, the S&P 500 has moved meaningfully away from the bullish line in the sand. That […]
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Date: March 2, 2016
Pictures from 2016 UCONN Women’s Senior Day
Date: February 29, 2016
Another 7% in the Cards for Stocks
Earlier this week as the major indices approached their February highs, I wrote about the need for a quick pause to refresh in Bulls Retreat for More Ammo. While I didn’t believe the rally was over, it was the first attempt against a widely followed price level and that usually fails the first time. It’s now three days later and after two days of pause, the bulls have come roaring back with back to back late day surges with excellent […]
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Date: February 26, 2016
Bulls Retreat for More Ammo
After 6 essentially straight up days for stocks off the February lows, it’s time for a breather or pause to refresh. In one fell swoop, the major indices have gone from the precipice of collapse to strong initiation of a rally. Sentiment saw despondency. Mutual fund flows were very defensive, Price action had panic. The breadth and breadth volume thrust off the bottom has been powerful and dramatic and portends higher prices into spring… with one familiar caveat. As I […]
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Date: February 23, 2016
Critical 5 Days Coming Up for the Bulls
What a wonderful three days it’s been for the bulls since I posted Yet ANOTHER Potential Low last week at the bottom. In fact, it has been one of the most powerful rallies off of a low in history in terms of the number of stocks advancing and declining along with their volume. That gives us a very overbought market in the short-term, but one that just emerging from being very oversold intermediate-term. After such strong thrusts off a bottom, […]
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Date: February 18, 2016
Yet ANOTHER Potential Low
For the second time in a week, stocks are trying to hammer out at least a trading low. Market action has not been good this whole quarter, but lately it has become so bad that it could be approaching washed out. February’s decline isn’t surprising given that down 5% months like we had in January typically lead to another lower month, but it has been on the ugly side for the bulls. It now looks like the major indices have […]
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Date: February 12, 2016
Another Potential Low
The major stock indices took it on the chin to begin the new week, following through from Friday’s decline. Coming in to the week, I said that unlike the previous week, it was now time for the bulls to take a stand. If they didn’t then a full re-test of the January low was likely up next, something that makes me a little uncomfortable because it shouldn’t be this quick. Should this test fail and the S&P 500 close below […]
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Date: February 9, 2016
Panic Buying Seen Off January Low… Will It Matter???
On January 22nd and January 29th, an extremely rare occurrence was seen in the stock market; something that had only happened 9 times since 1971. Over a span of five days, there were two days where 90% of the trading volume on the New York Stock Exchange took place in stocks that were up on the day. 90% volume days are nothing new to analysts. They have been watched since the days of Jesse Livermore in the 1920s. However, two […]
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Date: February 4, 2016
