Friday appears to be another near-term low in the market. The bears emerged victorious last week as the market traced out a series of ominous technical signs. On a weekly basis, the market opened higher and closed lower which is known as a negative reversal. Additionally, the weekly range (high and low) eclipsed the prior…
This was a constructive week on Wall Street, stocks opened lower but closed higher for most of the popular indices. A subtle, yet important, sign of strength is to see a market open lower but close higher in any given period. All things being equal, the longer the period, the stronger the ramification for the…
Last week I wrote, “The market looks like it just put in a near term low on Friday as the bulls showed up and defended the longer-term 200 DMA line.” That is exactly what happened as stocks soared last week and enjoyed their best week since 2013. I also said, “History shows us that 80%…
The market looks like it just put in a near-term low on Friday as the bulls showed up and defended the longer-term 200 DMA line. In the last two weeks, the market erased the last 10-week’s of gains. That, ladies and gentlemen, is not an insignificant sum and should not be taken lightly. Clearly, that…