Stocks Fall Ahead of The Brexit Vote It was another tough week for the bulls as the major indices fell 5 of the past 6 sessions and are in ‘pullback’ mode ahead of the Brexit Vote. On June 9th, the market looked strong as the S&P 500 jumped above two important areas of resistance (2111 and…
Stocks Fail At Key Levels of Resistance It was a tough week for the bulls. Stocks opened higher but closed near the lows for the week after failing to stay above key levels of resistance. For the past few weeks, we outlined April’s high of 2,111 in the S&P 500 as an…
Stocks opened lower but closed near their highs after the jobs report disappointed and missed estimates by a rather large margin. We have seen this pattern all week, (open lower and close near the highs) which is a subtle but important sign of strength.
Stocks rallied for a second straight week as the bulls showed up in the last full trading week of the month. The major indices jumped above their respective 50 day moving average lines and are now flirting with their 2016 high, which bodes well for the current rally. Last week we wrote, “without another wave of…