In Thursday’s pre-market report we noted that the market was ripe to rally, little did we know the Dow would soar nearly 300 points by the close. That’s just the way Wall Street works, when people want to step up and buy, they buy. Conversely, when people want to sell, they sell first and ask…
Stocks ended weaker last week and closed below important near-term support (50-day moving average line) as the market continues to digest the very strong post-election rally. Last week was the first time we saw all of the major indices break down and close below their respective 50 DMA lines since the election which is not…
Stocks ended slightly lower on the first week of the second quarter but, for now, the bulls managed to defend support. The two “big” market-moving headlines came from the Fed and President Trump. On Wednesday, the Fed released the minutes of its most recent meeting and it showed Fed officials want to unwind the massive…
Here’s how the market performed in Q1 (& so far in 2017): DJ Industrial Avg +4.56%, S&P 500 +5.57%, Nasdaq Comp +9.82%, Russell 2000 +2.13%. The title of last week’s article was: Market Tests Support. On cue, the bulls showed up earlier in the week and defended support for the major indices (50 DMA line…