[su_heading style=”modern-2-dark” size=”20″] Market Update [/su_heading] We received quite a few questions/emails from the press and many readers over the past 24 hrs asking us about the current action on Wall Street. The short answer is the market is range-bound. By definition, the market is moving sideways until either support (2039 in the S&P 500)…
[su_spoiler title=”Monday-Wednesday’s Action: Apple Breaks Support ” style=”fancy”] Stocks fell on Monday after Greece’s stock market plunged 20% after being closed for 5 weeks. Apple ($AAPL) sliced below support of its year long base and broke below its 200 DMA line which also weighed on stocks. China’s Shanghai Composite fell another -1.1% after the…
[su_heading style=”modern-2-dark” size=”20″] Market Update [/su_heading] The stock market is getting weaker, not stronger. Over the past few months we have mentioned the disconcerting (bearish) signals that were emerging on our radar. Notwithstanding more easy money from the Fed/other central banks, the market appears to be forming a major top. Leadership has narrowed substantially over…
[su_heading style=”modern-2-dark” size=”20″] Market Update [/su_heading] The major indices look toppy up here as more and more areas of the market begin to roll over. The Dow continues to under-perform with 23 (77%) of its components in poor technical shape and only 7 (23%) are in good shape. A full article on the Dow can…