[su_heading style=”modern-2-dark” size=”20″] Market Update [/su_heading] The bulls are back in control after fear eased considerably regarding the ongoing situation in Greece and China. The worst-case Armageddon scenario did not unfold and more importantly, support was defended last week (200 DMA line and the March 2015 low in the S&P 500). In the short term,…
[su_heading style=”modern-2-dark” size=”20″] Market Update [/su_heading] After all was said and done, stocks closed higher last week as optimism grew that a deal would get done in Greece. As mentioned in prior weeks, the “big” story here is not just Greece – it is the precedent that will be set and the broader ramifications for the…
[su_heading style=”modern-2-dark” size=”20″] Market Update [/su_heading] In the short term, the action in the major indices remains very sloppy as nearly all rallies continue to be faded (big institutions are selling rallies, not buying dips). The fact that Tuesday’s rally immediately failed and then today’s rally failed almost immediately after the open is not ideal. At…
[su_heading style=”modern-2-dark” size=”20″] Market Update [/su_heading] Today is a BIG support day for the market. Earlier today the market opened lower and took out last week’s low, causing the S&P 500 and the Dow Industrials to slice below their respective longer terms 200 DMA line. Within an hour, the bullish pixie dust emerged and the bulls…