Market Update: The major indices are still in pull back mode which is perfectly normal at this point as they pause to digest the recent/strong rally and digest a slew of earnings, economic and central bank data. The good news is the major indices remain above the 50 DMA line which is a good for…
Market Update: The title of last Thursday’s update was: “Getting Extended.” At the time, I had no idea that Trump would announce his immigration policy the next day after the close (timing was not a mistake). The media is blaming the subsequent backlash as the culprit behind this pullback. The market was very extended and it is…
Dear All: 1. There are 10 New Setups In This Week’s Report 2. Recent Media: Forbes: Earnings Scorecard: The FANG Stocks Thursday, January 26, 2017 CNBC: Stocks fall amid Trump policy jitters; energy, industrials off 1 percent Monday, January 23, 2017 Forbes: Earnings Preview: What To Expect From The FANG Stocks Saturaday, January 21, 2017 CNBC:…
Market Update: The Dow topped 20k yesterday and, as expected, the media went nuts. 20k is a number and from where I sit, the most important thing now is to see if the Dow can stay above 20k. In the near term, the action remains healthy but the market is getting very extended up here….