STOCK MARKET COMMENTARY: FRIDAY, NOVEMBER 20, 2013 The SPX and DJIA surged to fresh record highs after the Fed decided to taper QE by $10B per month. The Fed will now print $75B each month instead of $85B (more below), which is still very bullish for stocks. Technically, the action continues to be very bullish…
STOCK MARKET COMMENTARY: FRIDAY, NOVEMBER 13, 2013 The SPX and DJIA fell for a second straight week but found support near their prior chart highs and aboce their respective 50 DMA lines. As long as support holds, by definition, the bulls remain in control of this market. To put this pullback in the proper perspective,…
STOCK MARKET COMMENTARY: FRIDAY, NOVEMBER 06, 2013 The SPX and DJIA snapped their 8-week win streak but ended in the upper half of the range (which is a healthy sign). As we have mentioned several times recently, in the short-term the market is extended and a light volume pullback would do wonders to restore the…
STOCK MARKET COMMENTARY: FRIDAY, NOVEMBER 29, 2013 Stocks enjoyed their 8th consecutive week as the major averages continue to march higher. As we have mentioned several times recently, in the short-term the market is extended and a light volume pullback would do wonders to restore the health of this rally. The market negatively reversed (opened…