January 24, 2011 – 9:23 am
The Nasdaq 100 and the Russell 2000 bore the brunt of selling on Friday. These two indexes are in the process of a correction, and both face tests of their 50-day moving averages. The Russell 2000 is well on the way to a rendezvous with its 50-day, while the Nasdaq 100 is trailing in that [...]
November 26, 2010 – 11:14 am
Geopolitical Concerns Lead To Initial Weakness On Wall Street Stocks showed a notable move to the downside at the start of trading on Friday, giving back ground after showing a strong upward move in the previous session. The major averages all moved sharply lower amid renewed geopolitical concerns. The initial weakness in the markets reflected [...]
November 17, 2010 – 11:35 am
Stocks Mostly Higher In Mid-Morning Trading Stocks are largely on the upside in mid-morning trading on Wednesday, as support for financially troubled Ireland from major European powers has prompted some relief buying in the markets. Meanwhile, a mixed batch of data out of the U.S., including a sharper than expected drop in housing starts, has [...]
November 4, 2010 – 8:21 am
The economic calendar is active today, with Chain Store Sales and Jobless Claims likely to dominate. Chain Store Sales, also known as same-store sales, have no fixed timetable for their release. Each company will release results independently, starting very early in the pre-market. The Retail SPDR exchange-traded fund will likely be active, along with the [...]
October 14, 2010 – 7:25 am
Each of the indexes broke through resistance yesterday after a week of waiting. The Nasdaq 100 broke above its previous resistance level but failed to close above its April peak, which was 2059.42. That is its new resistance. There are fresh levels for all of the indexes. One concern for the bulls is the potential [...]
October 6, 2010 – 8:40 am
Of the three indexes we follow on a regular basis, the S&P 500 was the only one that broke out of its range of the last couple of weeks yesterday. This means that the S&P 500 gets fresh levels and takes the lead position on a technical basis, reversing the rather moribund underperformance that bulls [...]
October 4, 2010 – 10:06 am
Will the US Markets Falter? We will be keeping a close eye on the major US stock indices as we begin earnings season. We believe that the September rally is starting to falter, and there could be strong gains from buying puts on the way down. Below are the key technical support and resistance levels [...]
August 15, 2010 – 12:02 pm
This week a handful of economic reports and earnings reports will affect the markets. The home-builders’ index for August, scheduled for Monday, is expected to tip higher. Housing starts for July are set for Tuesday, with economists penciling in a rise in the pace of new home construction. Wal-Mart Stores Inc. releases its second-quarter reports [...]
The S&P futures are currently pointing to a flat or slightly down open for the week, but today’s trading could be critical for the S&P 500 index, from a technical standpoint. As of Friday’s close, the SPX was within a few points of breaking major resistance at the 1106 area. If it does that today, [...]
Once again a game of turnabout saw Wednesday’s sharp decline erased even before markets began trading. Earnings optimism, combined with stronger-than-expected data from Europe, fueled the market by more than 1 percent at the open. Although the Nasdaq 100 and the S&P 500 finished off their highs of the session, the Russell 2000 managed to [...]
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