2016 will go down in the history books as a strong year on Wall Street. The major indices opened sharply lower, experiencing the weakest start to a year – ever…before the bulls showed up in mid-February and defended major support (1810 for the S&P 500). Once that level was defended, the market didn’t look back….
The S&P 500 is forming a bullish 3-weeks tight pattern as the major indices pause to digest the recent post-election rally. So far, the action remains very healthy as sellers remain on the sidelines. The Dow notched its 7th straight weekly gain and is on track to end 2016 on a strong note. As we…
The melt-up continues as the market simply refuses to fall or even pullback and that strength needs to be respected. We know way too many people who are trying to fight this very strong bull market – to no avail. Last week, we wrote about the fact that the market was getting in trouble because…
The Nasdaq composite and the Nasdaq 100 have erased all of their post election gains which bodes poorly for the market. The very split tape we highlighted for you before the election – has become a lot more split since the election. The Dow closed above 19k and ended the week higher but all the…