Market Update: All eyes are on Friday’s jobs report. Yesterday was a big “up” day and the market and many areas gave it back today. Overall the action in the major averages is still good but we are beginning to see some areas break down. Gold/Silver stocks topped out and are now heading lower….
Dear All: 1. There are 10 New Setups In This Week’s Report: 2. Recent Media: CNBC: Stocks close mixed after Fed commentary; Nasdaq snaps 8-week win streak Friday, August 26, 2016 Reuters: Financials Lift Wall Street As Rate Hike Optimism Grows Thursday, August 25, 2016 CNBC: Stocks rise, led higher by materials; Nasdaq hits record…
Market Finally Pulls Back Overall, the major indices continue trading in a very tight range after a very strong ~10% post-brexit rally. So far, the action is normal and very healthy as the market appears to be pulling back from very extended conditions. Remember, there are two ways a market can pullback after a big rally:…
Market Update: Wednesday was the first day we saw a little selling emerge since Brexit. The operative word is “little” as the market still remains very strong. The selling yesterday came from Gold/Silver stocks and from biotech/healthcare. Biotechs and healthcare stocks fell after Mylan ($MYL) hiked prices for their EpiPen by 600%. Why any company…