Several important areas of the market, that had been leading for months, are now in “pullback mode” as we enter the heart of earnings season. Some of the recent leading areas such as: Defensive stocks, Consumer Staples, Food, Beverage and Utility stocks…
Stocks rallied last week as the bulls sent the major indices above important areas of resistance and within striking distance of fresh record highs. Most of the big financials rallied last week after reporting crummy numbers. This reinforces our point about focusing on the reaction, not the actual numbers. Corporate earnings are expected to…
Stocks remain very strong as the bulls continue to defend the short term 10 day-moving-average line for the major indices. The big news last week and last quarter is that easy money from global central banks is here to stay. For now, stocks continue to worship easy money and until that changes, the bulls are…
Finally, the long awaited pull back arrived on Wall Street as the major indices pulled back and snapped a very strong 5-week win streak. The pullback began when a slew of commodities started falling as the US dollar rallied. Remember, commodity stocks led the way up so they are important to watch because…