[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…
[su_heading style=”modern-2-dark” size=”20″] Market Update [/su_heading] We are operating with the notion that the market confirmed a large topping process on Aug 20 (the day the S&P 500 sliced and closed below 2,040 – the important support level that we highlighted for you since the Spring). The fact that global capital markets (stocks, currencies and commodities)…
[su_spoiler title=”Monday-Wednesday’s Action: Record Moves Up & Down On Wall Street” style=”fancy”] U.S. stocks experienced their weakest open in history after Asian markets plunged on continued growth concerns. China’s Shanghai Composite tanked -8.5% overnight which sparked a global sell-off. Before Monday’s open, “fear took over” causing the Dow & S&P 500 futures were…