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Over the weekend I read most of Martin Zweig’s Winning on Wall Street – which I’d highly recommend to traders and those passionate about the market. Zweig breaks down some interesting seasonal features that seem to correlate with the social mood of the public. When people are in a good mood, they tend to bid […]
Not much new on Wall Street today – another lazy day in late summer. Stocks continue to churn on anemic volume just above key support levels: The S&P continues to mill about just above its key support at 1040. (Source: StockCharts.com) Meanwhile, it seems like most investors are well aware of the fact that September […]
The summer doldrums continue, as today registered the 2nd lowest trading volume of the year (Source: Reuters). As we’ve discussed, the last rally was rather uninspiring, displaying low and declining volume as the rally aged: Source: StockCharts.com The downsloping volume trendline was “broken” a bit by last week’s decline. So while overall trading volume is […]
Since the stock market put in a short term bottom a couple of weeks ago (thanks to overwhelming pessimism), the mini-rally since has been a one-way street UP – until today. This has been the trend of the market since about 2003 or so – it’s either up for many consecutive time periods (like 2003-2007, […]
Not much of note today, as we saw a very lazy summer trading day. Are some fireworks just around the corner? Some thoughts for the rest of the trading week: NYSE decliners led advancers today by about 2 to 1 (Source: Seeking Alpha) – a sign of things to come? Earnings season is kicking off […]
Last week, we picked up a story courtesy of Bespoke Investments that showed just 4% of S&P 500 stocks were above their 50-day moving average – a level not even seen during the March 2009 lows! So we thought a stock market bounce might be on tap – and sure enough, this week we got […]
Last week, the S&P 500 collapsed through it’s 1040 support line, which had been tested twice before, indicating that there might be major PAIN ahead for stocks. This morning, stocks opened UP – but found resistance once again at 1040…this time, to the ceiling side. Before the weekend holiday, Todd Harrison of Minyanville presciently mused […]
The recent stock market decline has not only been sharp – shedding the year’s worth of gains in a matter of weeks – but it’s also had some very impressive breadth. Bespoke Investment reports that just 4% of S&P 500 stocks current sit above their 50-day moving average. So, everything is getting clobbered! The percentage […]
For a long while, it felt like the resumption of the stock market decline would never come. But now, it appears that US equities – the final holdout of the ’09-10 “reflation rally” – are once again under some serious pressure. When we last chatted, we wondered if the S&P’s kiss of the 1122 mark […]
Today we got the stock market pullback that we anticipated yesterday (read that post here). As I write this a few minutes before the closing bell, the S&P 500 is down about 13 points, now trading right around the 1100 mark. According to the Associated Press, volume is lighter than Monday’s session – with volume […]
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