Friday, November 30, 2012 Stock Market Commentary: The major averages ended higher in November and, as of this writing, have placed a near term low on Friday, November 16, 2012 (Day 1 of current rally attempt) after politicians hinted that a deal would get done for the fiscal cliff. If November’s lows (SPX 1343) are taken…
Friday, November 23, 2012 Stock Market Commentary: The major averages rallied during the shortened holiday week as optimism spread that the Fiscal Cliff will be resolved. Technically, the market is simply bouncing from egregiously oversold levels as the major averages still remain in the middle of their 10-week well defined downtrends. Friday marked Day 5 of…
Friday, November 16, 2012 Stock Market Commentary: The major averages ended the week lower as they continue tracing out their 9-week downtrend (series of lower highs and lower lows) helping the bears remain in clear control of this market. It is important to note that the market is “oversold” and due for a bounce. Keep…
Friday, November 09, 2012 Stock Market Commentary: The major averages sliced below support and continued tracing out their 8-week downtrend (series of lower highs and lower lows) as the bears remain in clear control of this market. It is important to note that the market is “oversold” and due for a bounce. Keep in mind that…