Dear All: 1. There are 12 New Tactical Trade Setups In This Week’s Report: 7 Longs and 5 Shorts: Forbes:Anthony Scaramucci’s Reaction to Yesterday’s SALT Conference Speakers and Stories Thursday, May 12, 2016 Forbes: Macy’s Gets Burned As Retail Stocks Slammed In Their Worst Day All Year Wednesday, May 11, 2016 CNBC: Stocks Slightly Higher As Oil Rises;…
Once again, the bulls showed up and defended the 50 DMA line for the Dow Industrials and S&P 500 right after several other – important – areas broke below key areas of support this morning. Right after the open, we saw…
The bulls showed up and defended the 50 DMA line for the S&P 500 and several important areas of the market. Until the S&P 500 and Dow Jones Industrial Average break below their respective 50 DMA lines, the buy the dip crowd remains in control. Going forward, we want to see…
Intermediate and long term there are one of two possible scenarios that may unfold: A. The major indices are building a long 1 year base and a breakout above resistance (2134 in the S&P 500). If that occurs, that will likely be bullish and trigger a new leg higher. B. This is one big top after a 7 year bull market and support breaks (1810-1820 in the S&P 500) and we enter a new bear market. We still think…