Once again, after a 2.5 month hiatus, sellers are showing up and putting pressure on several key areas of the market. Short-term, the major indices are pulling back after a strong rally right into major resistance (prior chart highs). Economic and earnings data…
Housekeeping: Unless we see a huge market move- this will be our only update this week.. Market Update: The Fed meets today and we expect them to be dovish (reiterate their easy money stance). That should be bullish for the major indices. Stepping back it is more of the same, the beaten down areas (mainly…
Several important areas of the market, that had been leading for months, are now in “pullback mode” as we enter the heart of earnings season. Some of the recent leading areas such as: Defensive stocks, Consumer Staples, Food, Beverage and Utility stocks…
Stocks opened the week higher but stalled mid-week and closed mixed to lower after sellers showed up in the latter half of the week. The small and mid caps outperformed while the Nasdaq/Nasdaq 100 lagged last week. Several important areas of the market, that had been leading for months, are now in “pullback mode”…