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Day 4: Stocks End Lower
Wednesday, February 10, 2010 Market Commentary: Stocks closed lower on speculation that the European Union will not bailout Greece. Volume was reported lower than the prior
Adam Sarhan
February 10, 2010
Day 3 Of A New Rally Attempt; Stocks Rally
Looking at the market, Tuesday marked Day 3 of a new rally attempt which means that as long as last Friday’s lows are not breached this rally attempt remains intact. In addition, the earliest a possible follow-through day (FTD) could emerge will be this Wednesday if the major averages rally at least +1.7% on higher volume than the prior session. However, if Friday’s lows are breached then the day count will be reset and a steeper correction may unfold.
Adam Sarhan
February 9, 2010
Day 2 Of A New Rally Attempt; Stocks Negatively Reverse
Monday, February 8, 2010 Market Commentary: The major averages negatively reversed and ended lower on Monday as concern spread that some European governments will struggle to
Adam Sarhan
February 8, 2010
Week In Review- 4th Consecutive Weekly Decline! 2.5.10
Looking at the market, Thursday’s ominous action took out Monday’s lows and effectively ended the brief rally attempt which suggests a steeper correction may unfold and resets the day count for a proper follow-through day to emerge. It is also important to see how the major averages react to their respective 50-day moving average (DMA) lines which were support and are now resistance. Until they all close above that important level the technical damage remaining on the charts is a concern. So far, the market’s reaction has been tepid at best to the latest round of economic and earnings data. Remember that the recent series of distribution days coupled with the deleterious action in the major averages suggests large institutions are aggressively selling stocks. Disciplined investors will now wait for a new follow-through day to be produced before resuming any buying efforts. Until then, patience is paramount. Our readers know that our defensive stance is not new- we have been defensive since January 23, 2010!
Adam Sarhan
February 5, 2010
Day Count Reset; Market In A Correction 2.4.10
Looking at the market, Thursday’s ominous action took out Monday’s lows and effectively ended the brief rally attempt which suggests a steeper correction may unfold and resets the day count for a proper follow-through day to emerge. It is also important to see how the major averages react to their respective 50-day moving average (DMA) lines which were support and are now resistance. Until they all close above that important level the technical damage remaining on the charts is a concern. So far, the market’s reaction has been tepid at best to the latest round of economic and earnings data. Remember that the recent series of distribution days coupled with the deleterious action in the major averages suggests large institutions are aggressively selling stocks. Disciplined investors will now wait for a new follow-through day to be produced before resuming any buying efforts. Until then, patience is paramount.
Adam Sarhan
February 4, 2010
Day 3 Of A New Rally Attempt
Looking at the market, Wednesday marked Day 3 of a new rally attempt which means that as long as Monday’s lows are not breached, the earliest a possible follow-through day could emerge will be Thursday. However, if Monday’s lows are taken out, then the day count will be reset and the chances for a steeper correction increase markedly. It is also important to see how the major averages react to their respective 50-day moving average (DMA) lines. Until they all close above that important level the technical damage remaining on the charts is a concern. So far, the market’s reaction has been tepid at best to the latest round of economic and earnings data. Remember that the recent series of distribution days coupled with the deleterious action in the major averages suggests large institutions are aggressively selling stocks. Disciplined investors will now wait for a new follow-through day to be produced before resuming any buying efforts. Until then, patience is key.
Adam Sarhan
February 3, 2010
Day 2 Of A New Rally Attempt
Tuesday, February 2, 2010 Market Commentary: Stocks and commodities rallied as the dollar fell for a second consecutive day after healthy news from the ailing housing front was
Adam Sarhan
February 2, 2010
Day 1 Of A New Rally Attempt
Looking at the market, Monday marked Day 1 of a new rally attempt which means that as long as Monday’s lows are not breached, the earliest a possible follow-through day could emerge will be this Thursday. However, if Monday’s lows are taken out, then the day count will be reset and the chances for a steeper correction increase markedly. It is also important to see how the major averages react to their respective 50 DMA lines. Until they all close above that important level the technical damage remaining on the charts is a concern. So far, the market’s reaction has been tepid at best to the latest round of economic and earnings data. Remember that the recent series of distribution days coupled with the deleterious action in the major averages suggests large institutions are aggressively selling stocks. Disciplined investors will now wait for a new follow-through day to be produced before resuming any buying efforts. Until then, patience is key.
Adam Sarhan
February 1, 2010
Stocks End The Day, Week, Month & Year In The Red
Friday, January 29, 2010 Market Commentary: Stocks ended the day, week, month and year lower as investors digested the latest round of tepid economic and
Adam Sarhan
January 29, 2010
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