Last week, the bears tried really hard to knock it down to pass the first initial S&P 500 selloff low @ 2822.12. S&P 500 and NASDAQ successfully defended the August 5th selloff low, but the DOW was not able to defend the first initial low and made a lower low on August 15th. All three […]
In our last blog, we thought the 50-day moving averages of the three indices may provide temporary support. But on Monday, August 5th, all three indices plunged to violate the 50-day moving averages with heavy volume. The heavy selloff has changed the characteristics of the bull market that started from the December 2018 low. The […]
On the last day of July the Fed announced an interest rate cut by 25 basis points citing the reasons of “implications of global developments for the economic outlook as well as muted inflation pressures”. Less than 24 hours later, President Trump announced 10% tariffs against Chinese imports of $300 billion.
Immediately after the Fed decision, all three indices acted in concert selling off hard to put a weekly cycle high in place. You need to login to view the rest of the content. Please Login. Not a Member? Join Us
The Fed is about to cut rates for the first time since 2008 as the trade war is weighing on economic growth. Are the rate cuts truly needed to support the economy or is the Fed under political pressure to appease the White House? Last time, the Fed cut rates in 1998 to prevent a […]
Last Thursday after the market close, Microsoft announced earnings that beat the top and bottom line. MSFT ran up immediately after the earnings release, it made a new all time high on Friday’s open, but it was sold off straight from the high at open with higher than usual volume. This is a topping signal, […]
