As we anticipated, good earnings did power the market out of indecision last week. The DOW and S&P 500 decisively closed above their perspective 50-day moving average. The NASDAQ decisively broke the down trend line with volume. All in all, the seasonal correction is OVER. If there aren’t any surprises (unknown events /shocks)
Last Monday the market, especially the NASDAQ had a mini crash due to the facebook whistleblower news. However, the market stabilized on Tuesday with the very negative facebook whistleblower congressional hearing in the backdrop. The market internal strength is incredible, it is very hard for short sellers to You need to login to view the […]
Last Friday the DOW and S&P 500 reversed from short to long signal at 1:35 pm, the NASDAQ finally complied and also reversed from short to long signal at 2:35 pm. The unison intraday reversal from short to long signal in the afternoon normally means the general sentiment of the market was wrong. The vast […]
The Fed spoke last week and saved the day. The Fed talked about tapering “soon”, but not now, so the market breathed a sigh of relief! Last Monday the three major indices fulfilled a peak to trough 5% correction. Then the market quickly reversed the correction. The S&P 500 and NASDAQ traded above their perspective […]
The S&P 500 closed just 6 points below its 50-day moving average last Friday. Closing one day below its 50-day moving average is not enough to say the market is set to decline from here. It needs to close two consecutive trading days below its 50-day moving average to confirm the pending decline.
In our last cycle analysis we pointed out that the market could hold up until the September FMOC meeting. But on Wednesday September 8th the market cracked. We sent out a private email to our subscribers stating that the cycle oscillators have confirmed a daily cycle top. The following day’s intraday trading further confirmed the […]
