[su_heading style=”modern-2-dark” size=”20″] Market Update [/su_heading] Stocks fell hard on Monday after it became clear that Greece would default on its debt and literally shut down their entire banking system for the week. Greece missed its latest payment to the IMF and became the first developed nation to default on their debt in modern history. In…
[su_heading style=”modern-2-dark” size=”20″] Market Update [/su_heading] The Greece news remains front and center as stocks are trying to bounce today after Monday’s very steep sell off. The bounce does not look “strong” which is not ideal for the bulls. In the short term, the bulls are trying to defend the 200 DMA line for the Dow…
[su_heading style=”modern-2-dark” size=”20″] Market Update [/su_heading] In the short-term the market remains range-bound while the intermediate and long term action remain strong. All the major averages are only 1-3% below their record highs which is a strong sign of strength. To be clear the tape remains very split with so many areas breaking down and acting…
[su_heading style=”modern-2-dark” size=”20″] Market Update [/su_heading] The title of Tuesday’s update was, “A Little Negative Divergence Forming.” That is exactly what happened…The major averages fell yesterday after optimism around a potential Greek deal dissolved. Technically, the market remains very split as teh Transports ($IYT) and Utilities ($XLU) broke support this week and continue to weigh…