Category Archives: Member Only

Possible Double Top in Play

After the S&P 500 hit 50-day moving average support, it staged an impressive rally to wipe out the entire loss from the coronavirus selloff.  All three indices made new highs last week.  It appeared to be that the market is discounting the long lasting economic impact from the fast spreading virus. 

You need to login to view the rest of the content. Please . Not a Member? Join Us

Read more ...

The Market Correction is Underway

The market made a knee-jerk low on last Monday when the cronavirus hit the wire hard over the weekend.  It traded sideways for the next three days, then on Friday it took out the knee-jerk low and closed below it.  This is the confirmation of the weekly cycle correction is underway.

Read more ...

NASDAQ Index Finally Caved In

The recent tech led rally has been nothing but impressive.  The DOW index topped on Jan 17th, 2020, finally the S&P 500 and Nasdaq topped a week later on Jan 22nd, 2020.  Over the weekend, the coronavirus deaths news has been hitting the wire hard.  As we are writing the blog on Sunday evening around

Read more ...

Abnormal Behavior in the Stock Market

The recent unrelenting rally is anything but normal!  The fundamentals don’t support the scale of the rally.  The S&P 500 earnings only grew 3% but the market rallied 30%+.  The most overbought stock is Apple.  The street analysts have been searching for all the reasons (service revenue, 5G, better iPhone 11

Read more ...

Approaching the Turning Point

Finally the market is showing signs of a little weakening.  Last Friday all three indices made a new high at open, then it just didn’t have the energy to keep pushing higher to pass the open high in the morning.  It broke down in the afternoon session and closed near the low of the day.  The S&P 500 and the DOW made an outside

Read more ...