[su_heading style=”modern-2-dark” size=”20″] Market Update [/su_heading] The action over the past week has been nothing short of “sloppy.” Typically, sloppy action in an aging bull market (present bull market is old by any normal measure and is getting ready to turn 7 in March 2016) is not healthy and precedes a big decline. Furthermore, we don’t like…
[su_heading style=”modern-2-dark” size=”20″] Market Update [/su_heading] The market continues to “pause” and “digest” late August’s steep sell-off. So far this is “normal” action after a big move and we have to expect the market to move sideways until the S&P 500 closes above near term resistance (1993) or below near term support (1867). Until…
[su_heading style=”modern-2-dark” size=”20″] Market Update [/su_heading] In the short term, the next level of support is 1867 in the S&P 500 and the next level of resistance is 1993. By definition, until either level is breached we expect sideways action to continue. Stocks ended lower last week ahead of the long holiday weekend. In our…
[su_heading style=”modern-2-dark” size=”20″] Market Update [/su_heading] The market continues to go nowhere fast as it pauses to digest last week’s manic sell-off and violent recovery. We have the always-fun jobs report tomorrow which will be the last “big” piece of economic data ahead of the Fed’s next meeting in the middle of Sept. In…