Stocks ended higher last week as earnings season kicked off and investors digested a busy week of macro data. The big bullish catalyst came from global central banks. The U.S. Fed and the European Central Bank (ECB) made dovish comments which prompted buyers to return from a 4-week hiatus. First, Janet Yellen softened her slightly…
Stocks end mostly higher on the first week of the third quarter. Stepping back, the market remains split. Tech stocks remain under pressure while the Dow Industrials, S&P 500 and Russell 2000 all closed above their respective 50 DMA lines. The bulls showed up on Friday and defended the 50 DMA line for the S&P…
The complexion of the market changed considerably in June as fatigue finally set in after a very strong rally. June was littered with a spate of heavy volume down days, especially in tech stocks, which is not ideal for this aging bull market. The biggest negative divergence occurred in the Nasdaq and the Nasdaq 100,…
Bulls Defend Critical Support Stocks ended mostly higher last week after the bulls showed up and defended critical support. As we have said since the beginning of June, the 50-day moving average line is the critical line in the sand to watch for the major indices. It was encouraging to see that important level defended,…