[su_heading style=”modern-2-dark” size=”20″] Market Update [/su_heading] Today’s wild action warrants a special intra-week update so we are sending out a note today, instead of tomorrow. The U.S. stock market topped out last week and is now trading like a penny stock – which happens during bear markets, not bull markets. As we said in our…
[su_spoiler title=”Monday-Wednesday’s Action: Sellers Are In Control” style=”fancy”] Stocks opened lower on Monday but quickly turned higher as investors digested the latest round of economic data. Before the open, the empire state manufacturing index plunged to negative -14.92, missing consensus for a positive 4.75. The housing market index rose to 61, matching estimates…
[su_heading style=”modern-2-dark” size=”20″] Market Update [/su_heading] A Big Top & Markets Are Forecasting A Global Recession The damage last week was severe. The market is now on the cusp of rolling over and forming a new downtrend. We do not like to buy new stocks during a downtrend and “leadership” changes drastically during a downtrend….
[su_heading style=”modern-2-dark” size=”20″] Market Update [/su_heading] A lot has changed since Tuesday’s update. To be clear, this is the time for defense, not offense. The bears are clearly in control and are getting stronger by the day.The market is now negative for the week, the major indices broke below last Wed’s low (was an important…