Market Update: Not much has changed since Tuesday’s intra-week update except the market went from being extended to the upside – to being very extended to the upside! On Tuesday we wrote, “The consensus is that the market will sell off hard after the speech. The consensus is usually wrong.” But, even I wasn’t expecting a 300…
Market Update: The market remains exceptionally strong as sellers remain virtually nonexistent. The major indices are hugging the 10 day moving average which is near term support. Below that is the 21 day moving average then the more popular 50 day moving average. The inability for the market to fall in a meaningful fashion illustrates how strong the…
Dear All: 1. There are 10 New Setups In This Week’s Report 2. Recent Media: Bloomberg/ChinaTV: China’s New Housing Market Rules Thursday, February 22, 2017 CNBC: S&P, Dow And Nasdaq Post Record Closes Despite French Election Fears Friday, February 17, 2017 WSJ: Bullish Cotton Bets Fly in Face of Trump’s Trade Rhetoric Wednesday, February…
Stocks ended mixed to mostly higher on Trump’s 5th week in office. The relentless rally, coupled with the inability for stocks to fall in a meaningful fashion, illustrates how strong the bulls are right now. The more we scan the market and look at leading stocks, sectors and industry groups, the more this feels like…