Friday, December 28, 2012 Stock Market Commentary: Stocks closed below their respective 50 DMA lines last week which is not a healthy sign. The uptrend that began on Friday, November 16, 2012- after politicians hinted that a deal would get done for the fiscal cliff is under pressure and appears to be weakening every day….
Friday, December 21, 2012 Stock Market Commentary: Stocks confirmed their latest uptrend when they closed above resistance (1435) on Tuesday, December 18, 2012. This marked day 22 of their current rally attempt (that began on Friday, November 16, 2012- after politicians hinted that a deal would get done for the fiscal cliff). It was very healthy…
Friday, December 14, 2012 Stock Market Commentary: Friday marked day 20 of the current rally attempt (that began on Friday, November 16, 2012- after politicians hinted that a deal would get done for the fiscal cliff). Over the past 20 sessions, the market bounced from November’s low (SPX ~1343) to November’s high (SPX ~1435), or…
Friday, December 07, 2012 Stock Market Commentary: The major averages placed a near term low on Friday, November 16, 2012 (Day 1 of the current rally attempt) after politicians hinted that a deal would get done for the fiscal cliff. If November’s lows (SPX 1343) are taken out, then odds favor lower, not higher prices, will…