Monday, April 18, 2011 Stock Market Commentary: Stocks got smacked after Standard & Poor’s rating service cut the U.S. long term credit outlook to negative. The current rally which began on the Thursday, March 24, 2011 follow-through day (FTD) came under pressure at the beginning of April and officially ended on Monday, April 18, 2011,…
Market Action- Rally Under Pressure
The current rally which began with the Thursday, March 24, 2011 FTD is now under pressure as several of the major averages violated, and closed, below their respective 50 DMA lines. Remaining objective, it is bullish to see several leading stocks continue to act well (LULU, BIDU, DECK, PCLN, OPEN, SINA, etc) but the deterioration in the major averages should not be overlooked. If you are looking for specific help navigating this market, please contact us for more information.
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Thursday, April 14, 2011 Stock Market Commentary: Stocks opened lower after jobless claims rose and inflation edged higher. Thursday was the third consecutive day, the bears showed up and quelled the bulls’ efforts. From our vantage point, the current rally is under pressure as all the major averages are flirting with their respective 50 DMA…
Market Action- Rally Under Pressure
The current rally which began with the Thursday, March 24, 2011 FTD is now under pressure as the Nasdaq composite & Nasdaq 100 both closed below their respective 50 DMA lines. Remaining objective, it is bullish to see the other popular averages all trading near to slightly above their respective 50 DMA lines. However, if that important level is breached, then lower, not higher prices, likely lie ahead. If you are looking for specific help navigating this market, please contact us for more information.
Have you seen the “Wise Money Library”?
Now, All In One Place, A Collection Of Strategies, Techniques and
Resources That Professional Traders and Investors Use
Have a Look: www.WiseMoneyLibrary.com