Tag Archives: SP 500

It Is Still A Bear Market Rally

pricentime

Last week Nasdaq had an outside reversal weekly bar, meaning it traded lower than the previous week’s low and then closed higher than the previous week’s high.  When this happens, it is indicative of further momentum on the upside.  The Dow and S&P 500 also closed on the strong side on the weekly bar.  The short term momentum

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More Volatility Ahead

The five mega cap tech companies reported earnings last week and that finally finished the Fed induced rally.  The market mood has switched to paying attention to the economic realities.  The epic battle between the Fed supporting the equities and the market driven price exploration will cause volatility to rise.

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The Unknowables of Covid-19

In the last two weeks, the S&P 500 essentially chopped around the range established after the Fed nuclear option (buying junk bonds) announcement.  Underneath the three indices, there are vastly different performing sectors reflecting the new Covid-19 driven economy and the related stock performance.

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Impressive Rally yet Still No Weekly Signal to Go long

On April 9th, the Fed announced that they will extend credit to banks that issue PPP loans, purchase up to $600 billion in loans issued through the Main Street program to medium-sized firms. The moves also involve secondary corporate credit facilities that will allow the Fed to buy corporate bonds from “fallen angels” that have

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Far From Over

Last Tuesday the market gaped up at open and hit the S&P 500 known resistance level 2750.  Immediately it retreated and produced an intraday sell signal.  The intraday sell signal was confirmed at the close by it closing at the low of the day.  The next day should be followed with a new bearish trend when the Tuesday’s low of the day

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